November 11, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) –  Ares Capital Corp. (NASDAQ: ARCC) said that it has entered into an agreement to sell ten million shares of common stock at a public offering price of $16.50 per share, raising $165 million in gross proceeds. Wells Fargo Securities (NYSE: WFC), BofA Merrill Lynch (NYSE: BAC) and SunTrust Robinson Humphrey are acting as joint bookrunners.

The shares are scheduled to be delivered on November 16. Ares Capital has granted the underwriters an option to purchase up to an additional 1.5 million shares of common stock to cover over-allotments, if any.

Ares said it plans to use the net proceeds of this offering to repay certain outstanding indebtedness under its senior secured revolving credit facility and, to the extent not applied for such purposes, to repay certain outstanding indebtedness under a separate revolving securitized facility and for general corporate purposes, which may include funding investments in its investment backlog and pipeline.

New York-based Ares Capital is a closed-end, non-diversified management investment company with offices in Atlanta, Chicago, Los Angeles, New York and Washington, D.C. Ares provides integrated debt and equity financing solutions to U.S. middle market companies.

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