Ares Capital Lifts SMBC Funding Facility to $1.6B, Cuts Spread; Accordion Up to $2.5B
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Ares Capital has amended its SMBC Funding Facility, increasing lender commitments from $1.1 billion to $1.6 billion and lowering the interest spread to 1.75% over SOFR. The accordion feature is expanded to a maximum of $2.5 billion. These changes aim to enhance liquidity and reduce borrowing costs, with other terms remaining unchanged. The amendment is effective from February 25, 2026, and is provided by Sumitomo Mitsui Banking and other lenders.
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