117 Aufrufe 117 0 Kommentare 0 Kommentare

    Ares Management Corporation Prices Offering of Senior Notes

    Ares Management Corporation (“Ares” or the “Company”) (NYSE: ARES) today announced that it has priced an offering (the “Offering”) of $750,000,000 aggregate principal amount of its 5.600% Senior Notes due 2054 (the “notes”). The notes will be fully and unconditionally guaranteed by Ares Holdings L.P., Ares Management LLC, Ares Investments Holdings LLC, Ares Finance Co. LLC, Ares Finance Co. II LLC, Ares Finance Co. III LLC and Ares Finance Co. IV LLC. The Offering is expected to close on October 11, 2024, subject to the satisfaction of customary closing conditions.

    The notes will bear interest at a rate of 5.600% per annum. Interest on the notes will be payable semi-annually in arrears on April 11 and October 11 of each year, commencing April 11, 2025.

    The net proceeds from the Offering will be approximately $737.7 million, after deducting the underwriting discount, but before offering expenses. Ares intends to use the net proceeds from the Offering for (i) the payment of a portion of the cash consideration due in respect of Ares’ previously announced acquisition of the international business of GLP Capital Partners Limited and certain of its affiliates, excluding its operations in Greater China (“GCP International”), and existing capital commitments to certain managed funds (the “GCP Acquisition”) and related fees, costs and expenses and/or (ii) general corporate purposes, including repayment of debt, other strategic acquisitions and growth initiatives. Pending such use, Ares may invest the net proceeds in short-term investments.

    Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., RBC Capital Markets, LLC, SMBC Nikko Securities America, Inc., and Truist Securities, Inc. are acting as joint book-running managers for the Offering. Ares Management Capital Markets LLC, Barclays Capital Inc., BNY Mellon Capital Markets, LLC, BofA Securities, Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, MUFG Securities Americas Inc., UBS Securities LLC, U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC, AmeriVet Securities, Inc., Loop Capital Markets LLC, R. Seelaus & Co., LLC, Samuel A Ramirez & Company, Inc., and Siebert Williams Shank & Co., LLC are acting as co-managers for the Offering. The Offering is being made pursuant to an effective shelf registration statement on file with the U.S. Securities and Exchange Commission (the “SEC”).

    Seite 1 von 3



    Business Wire (engl.)
    0 Follower
    Autor folgen

    Ares Management Corporation Prices Offering of Senior Notes Ares Management Corporation (“Ares” or the “Company”) (NYSE: ARES) today announced that it has priced an offering (the “Offering”) of $750,000,000 aggregate principal amount of its 5.600% Senior Notes due 2054 (the “notes”). The notes will be fully …