ARES CAPITAL CORP — Form 8-K
Filed July 28, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 32/100
What the filing says
Ares Capital reported Q2 2026 net investment income of $359M ($0.50/share) with Core EPS of $0.47/share. The board declared a Q3 2026 dividend of $0.48/share, consistent with Q2. Key developments: $800M unsecured notes issued at 5.550% (Jan 2030 maturity); A&R Credit Facility increased from ~$5.3B to ~$5.5B with extended maturity dates; first commercial paper program launched ($1B capacity); ADL CLO 1 refinanced ~$709M in July 2026. Portfolio of $29.3B (619 investments) with $6.0B liquidity, 1.15x leverage. Non-accruing loans at 2.4% of amortized cost (1.4% at fair value), up from 1.8% (1.2%) YE 2025.
Why this rating
Routine quarterly earnings with stable dividend and incremental financing refinements. No material changes in portfolio scale, performance metrics, or business trajectory relative to $15.4B market cap.
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