Ares Capital says it obtained a $750 million upsize to a funding facility

Ares Capital said on its third-quarter call that it obtained the upsize to its existing Wells Fargo-led funding facility alongside its agreement to acquire MidCap Financial Investment Corporation.

Chief Financial Officer Scott Lem said the company's significant existing liquidity, together with the upsize, provides sufficient capacity to acquire the MFIC portfolio without the need for additional debt capital.

Quotes from the call

“...in conjunction with today's announcement to acquire MFIC, we obtained a $750 million upsized commitment to our existing Wells Fargo-led funding facility that we expect to close upon the consummation of the acquisition, subject to customary closing conditions.”