Ares Management Corporation has entered into a Credit Agreement with Bank of America, N.A., securing a term loan facility amounting to $400 million. The agreement, finalized on March 27, 2026, allows Ares Holdings L.P., a subsidiary of Ares Management, to access funds with a final maturity date set for March 27, 2029. The loan will bear interest at a floating rate, which can be either the Term SOFR Rate plus an applicable margin or the Base Rate plus an applicable margin, depending on the company's senior long-term unsecured debt ratings. The Credit Agreement includes various covenants that restrict the borrower's ability to incur additional debt, grant liens, and make significant investments without exceptions. Furthermore, it mandates maintaining a net debt to Adjusted EBITDA ratio not exceeding 4.00 to 1.00 and requires that Assets Under Management remain above $179.83 billion. The proceeds from this loan are designated for refinancing existing debt, covering fees and expenses, and supporting ongoing working capital needs. This strategic move is expected to enhance Ares Management's liquidity position, allowing for continued operational execution and growth in its investment activities.

Press Release distribution

National Press Distribution across U.S. Media. Direct Access to Key Decision Making Editors.