AI English summary of an SEC filing — figures as filed
Ares Management ARESAres Management said Ares Holdings L.P., as borrower, entered into a Credit Agreement with Bank of America, N.A. as administrative agent on March 27, 2026. The agreement provides a term loan facility with a total commitment of $400 million, and its final maturity date is March 27, 2029.
Key points
AI summaryAres Management said Ares Holdings L.P., as borrower, entered into a Credit Agreement with Bank of America, N.A. as administrative agent on March 27, 2026. The agreement provides a term loan facility with a total commitment of $400 million, and its final maturity date is March 27, 2029.
The company said the term loan facility was fully funded at closing. Loans bear interest at the borrower's option at a floating rate, either Term SOFR Rate or Base Rate, plus an applicable margin. The margin is set based on the company's senior long-term unsecured debt ratings.
The company said the Credit Agreement requires it to maintain a net debt to Adjusted EBITDA ratio of no more than 4.00 to 1.00 as of the end of any 4 fiscal quarter period. It also said Assets Under Management must remain at or above $179,825,526,099.
The company said the Credit Agreement borrowings must be used to refinance existing debt, pay certain fees and expenses, and fund the borrower's working capital needs and general corporate purposes. In the event of default, commitments may be terminated and outstanding borrowings may be accelerated. The agreement also restricts the borrower's and its subsidiaries' incurrence of debt, granting of liens, and making of dividends.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Ares Management closes $400 million term loan maturing March 27, 2029
Ares Management said Ares Holdings L.P., as borrower, entered into a Credit Agreement with Bank of America, N.A. as administrative agent on March 27, 2026. The agreement provides a term loan facility with a total commitment of $400 million, and its final maturity date is March 27, 2029.
Source · Based on the filing body and exhibits
Fully funded term loan at closing and floating-rate terms
The company said the term loan facility was fully funded at closing. Loans bear interest at the borrower's option at a floating rate, either Term SOFR Rate or Base Rate, plus an applicable margin. The margin is set based on the company's senior long-term unsecured debt ratings.
Source · Based on the filing body and exhibits
Financial covenants including net debt to Adjusted EBITDA of 4.00 to 1.00 or less
The company said the Credit Agreement requires it to maintain a net debt to Adjusted EBITDA ratio of no more than 4.00 to 1.00 as of the end of any 4 fiscal quarter period. It also said Assets Under Management must remain at or above $179,825,526,099.
Source · Based on the filing body and exhibits
Use of borrowings and event of default terms
The company said the Credit Agreement borrowings must be used to refinance existing debt, pay certain fees and expenses, and fund the borrower's working capital needs and general corporate purposes. In the event of default, commitments may be terminated and outstanding borrowings may be accelerated. The agreement also restricts the borrower's and its subsidiaries' incurrence of debt, granting of liens, and making of dividends.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
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