Ares Capital Corporation Prices Public Offering of $600.0 Million 4.875% Senior Unsecured Notes Due 2018

  Ares Capital Corporation Prices Public Offering of $600.0 Million 4.875%
  Senior Unsecured Notes Due 2018

Business Wire

NEW YORK -- November 14, 2013

Ares Capital Corporation (Nasdaq:ARCC) announced that it has priced an
underwritten public offering of $600.0 million in aggregate principal amount
of 4.875% senior unsecured notes due 2018. The notes will mature on November
30, 2018 and may be redeemed in whole or in part at our option at any time at
par plus a “make-whole” premium.

BofA Merrill Lynch, J.P. Morgan, Barclays, Morgan Stanley, Wells Fargo
Securities and SunTrust Robinson Humphrey are acting as joint book-running
managers for this offering. BMO Capital Markets, Mizuho Securities and SMBC
Nikko are acting as co-managers for this offering. The offering is expected to
close on November 19, 2013, subject to customary closing conditions.

Ares Capital expects to use the net proceeds of this offering to repay certain
outstanding indebtedness under its debt facilities and, to the extent not
applied for such purpose, for general corporate purposes, which may include
investing in portfolio companies in accordance with its investment objective.

Investors are advised to carefully consider the investment objective, risks,
charges and expenses of Ares Capital before investing. The pricing term sheet
dated November 14, 2013, the preliminary prospectus supplement dated November
12, 2013 and the accompanying prospectus dated June 17, 2013, each of which
have been filed with the Securities and Exchange Commission, contain this and
other information about Ares Capital and should be read carefully before
investing.

The information in the pricing term sheet, the preliminary prospectus
supplement, the accompanying prospectus and this press release is not complete
and may be changed. The pricing term sheet, the preliminary prospectus
supplement, the accompanying prospectus and this press release are not offers
to sell any securities of Ares Capital and are not soliciting an offer to buy
such securities in any state where such offer and sale is not permitted.

The offering may be made only by means of a preliminary prospectus supplement
and an accompanying prospectus, copies of which may be obtained from BofA
Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department,
or e-mail dg.prospectus_requests@baml.com; J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
Attn: Prospectus Department, 866-803-9204; or Barclays Capital Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
Attn: Prospectus Department, 888-603-5847, or e-mail
Barclaysprospectus@broadridge.com.

ABOUT ARES CAPITAL CORPORATION

Ares Capital is a leading specialty finance company that provides one-stop
financing solutions to U.S. middle market companies and private equity
sponsors. The Company originates and invests in senior secured loans,
mezzanine debt and, to a lesser extent, equity investments through its
national direct origination platform. Ares Capital’s investment objective is
to generate both current income and capital appreciation through debt and
equity investments primarily in private companies. Ares Capital has elected to
be regulated as a business development company, and is externally managed by a
wholly owned subsidiary of Ares Management LLC. Ares Management is a global
alternative asset manager and a SEC-registered investment adviser with
approximately $68 billion of committed capital under management as of
September30, 2013.

FORWARD-LOOKING STATEMENTS

Statements included herein may constitute “forward-looking statements,” which
relate to future events or our future performance or financial condition.
These statements are not guarantees of future performance, condition or
results and involve a number of risks and uncertainties. Actual results and
conditions may differ materially from those in the forward-looking statements
as a result of a number of factors, including those described from time to
time in our filings with the Securities and Exchange Commission. Ares Capital
undertakes no duty to update any forward-looking statements made herein.

Contact:

Ares Capital Corporation
Carl G. Drake, 888-818-5298