Ares Capital Secures $200M Funding From Sumitomo

Law360, New York (January 24, 2012, 1:34 PM EST) -- A subsidiary of New York-based debt and equity investment firm Ares Capital Corp. has closed a new $200 million debt facility with a banking affiliate of Japanese Sumitomo Mitsui Financial Group Inc., the company announced Tuesday.

Ares Capital JB Funding LLC received the eight-year revolving funding facility, which has a three-year reinvestment period, from Sumitomo Mitsui Banking Corp., in what is the first lending relationship for Ares Capital with Japan's second-largest  lender.

The facility will be secured by first-lien assets, has an interest rate of Libor...
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