Ares Capital Corporation’s Shares Offering

Freshfields has acted as underwriters’ counsel for Ares Capital Corporation’s (ARCC) offering of 10 million shares of Common Stock.

The offering raised approximately $210.2 million in proceeds for ARCC. The syndicate was led by Morgan Stanley & Co. LLC, BofA Securities, Inc. and UBS Securities LLC. ARCC is the largest public US business development company by market capitalization, with approximately $19.2 billion of total assets as of September 30, 2021.

Ares Capital Corporation is a management investment company. The Company seeks to generate both income and capital appreciation through debt and equity investments by primarily investing in U.S. middle market companies. 

The Freshfields capital markets team consisted of partner and global co-head of capital markets Valerie Ford Jacob (Picture), partner Michael Levitt, counsel Jeremy Barr, senior associate Tracy Zhang and law clerks Fatima Anjum and Yunah Ko. Tax advice was provided by partner Robert Scarborough and senior associate David Mitchell.

Involved fees earner: Jeremy Barr – Freshfields Bruckhaus Deringer LLP; Valerie Jacob – Freshfields Bruckhaus Deringer LLP; Michael Levitt – Freshfields Bruckhaus Deringer LLP; David Mitchell – Freshfields Bruckhaus Deringer LLP; Robert Scarborough – Freshfields Bruckhaus Deringer LLP; Tracy Zhang – Freshfields Bruckhaus Deringer LLP;

Law Firms: Freshfields Bruckhaus Deringer LLP;

Clients: Bank of America Securities; Morgan Stanley; UBS Securities LLC;

Giulia Di Palma

Author: Giulia Di Palma