Ares Management Reports $400 Million Term Loan Facility
Summary
Ares Holdings L.P., a subsidiary of Ares Management Corporation, entered into a Credit Agreement on March 27, 2026, establishing a $400 million term loan facility. This facility, fully funded at closing and maturing on March 27, 2029, was arranged with Bank of America, N.A. as administrative agent (via Ex. 10.1). * Proceeds are designated for refinancing existing indebtedness, covering fees, and funding working capital and general corporate purposes. * The agreement includes covenants, such as maintaining a net debt to Adjusted EBITDA ratio not exceeding 4.00 to 1.00. * It also requires Assets Under Management to remain at or above $179,825,526,099.
Why It Matters
This agreement creates a significant direct financial obligation for Ares Holdings L.P., providing $400 million for strategic financial management and general operations. The included covenants, such as the net debt to Adjusted EBITDA ratio and minimum AUM, impose financial discipline and are key metrics for investors to monitor.
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Key Quote
“Proceeds from the Credit Agreement must be used to refinance existing indebtedness, pay certain fees and expenses or fund ongoing working capital needs and general corporate purposes of the Borrower.”
— From Item 1.01
Filing Details
Reported Items
Additional Information
- CIK Number
- 0001176948
- Filing Date
- Tuesday, March 31, 2026
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- high
- Sentiment
- positive