Ares Capital Corporation said it would be offering 11 million shares of common stock to the public. The company also intended to give underwriters the choice to buy up to 1,650,000 in additional shares. The company said it would be using proceeds from the fundraising to settle some of its outstanding debts. It would also be using the funds for general corporate purposes. This would include placing investments in portfolio firms following its investment goals. The bookrunners for the offering are Morgan Stanley, Bank of America Merrill Lynch and Wells Fargo Securities.

Ares Capital Corporation is a specialty finance firm that provides financing solutions to private equity sponsors and middle market companies in the US. Its investment objective centers on generating current income and capital appreciation by making debt and equity investments in private firms. Aside from loan origination, Ares Capital also makes investments in senior secured loans and mezzanine debt.