Recent Updates — ARCC

Ares Capital reported third-quarter 2026 GAAP net income of $319 million, or $0.44 per share, down from $404 million, or $0.57 per share, in the prior-year period. Core earnings per share were $0.46 compared to $0.50 a year ago. The company also announced a fourth-quarter dividend of $0.48 per share, payable December 29, 2026 to stockholders of record on December 15, 2026. Net investment income was $328 million, while net realized losses were $52 million and net unrealized gains were $43 million. The firm maintains a dividend coverage ratio supported by stable credit quality and historically low non-accrual loans. Ares Capital is a leading specialty finance company focused on providing direct loans and other investments in private middle market companies in the United States.

Ares Capital Corporation entered into a definitive merger agreement to acquire MidCap Financial Investment Corporation in an all-stock and cash transaction valued at approximately $2.6 billion. Under the terms, MFIC shareholders will receive total consideration of $10.88 per fully diluted share, consisting of approximately $1.21 in cash provided by Ares Management and approximately $9.67 in Ares Capital common stock. The deal represents a 30.1% premium to MFIC's last closing price. The transaction is expected to close in the first half of 2027, subject to approval by MFIC stockholders, regulatory clearances including HSR Act waiting periods, and other customary conditions. Ares Capital operates as a leading publicly traded business development company focused on direct lending to U.S. middle-market companies.

Ares Capital Corporation issued $750 million in aggregate principal amount of 6.250% senior notes due September 15, 2033. The company entered into a Seventh Supplemental Indenture with U.S. Bank Trust Company and an interest rate swap with JPMorgan Chase Bank to convert the fixed-rate debt exposure to floating rates based on three-month SOFR plus 1.85250%. Net proceeds are intended to repay outstanding indebtedness under credit facilities. Ares Capital Corporation is a business development company that provides financing solutions to middle-market companies.

Ares Capital Corporation reported second quarter 2026 financial results, posting GAAP net income per share of $0.24 and Core EPS of $0.47. The company declared a third quarter 2026 dividend of $0.48 per share, payable on September 30, 2026 to stockholders of record as of September 15, 2026. As of June 30, 2026, portfolio investments at fair value totaled $29.3 billion, with net asset value per share at $19.35. The firm raised approximately $1.2 billion in additional financing during the quarter and launched a new commercial paper program. Ares Capital operates as a business development company providing direct loans and other investments to private middle market companies.