Ares Management, L.P. (NYSE:ARES) today announced its indirect
subsidiary, Ares Finance Co. LLC, intends to offer senior notes (the
“notes”), subject to market and other conditions. The notes will be
fully and unconditionally guaranteed by Ares Management, L.P., Ares
Holdings Inc., Ares Domestic Holdings Inc., Ares Real Estate Holdings
LLC, Ares Holdings L.P., Ares Domestic Holdings L.P., Ares Investments
L.P., Ares Real Estate Holdings L.P., Ares Management LLC and Ares
Investments Holdings LLC. The aggregate principal amount of the notes is
expected to be approximately $250 million. Ares intends to use a portion
of the net proceeds from the sale of the notes to repay outstanding
borrowings under its revolving credit facility and promissory notes
issued in connection with a prior acquisition. Any remaining net
proceeds will be used for general corporate purposes, including future
strategic acquisitions or related transactions, and to fund growth
initiatives. Ares has entered into a non-binding letter of intent for an
acquisition that is not material to its businesses. There can be no
assurance that Ares will enter into a binding agreement or complete such
acquisition or any other acquisition.
The notes will be offered and sold to qualified institutional buyers in
the United States pursuant to Rule 144A and outside the United States
pursuant to Regulation S under the Securities Act of 1933, as amended
(the “Securities Act”).
The notes have not been and will not be registered under the Securities
Act or any state securities laws and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements of the Securities Act and applicable state
laws.
This news release shall not constitute an offer to sell or a
solicitation of an offer to purchase the notes or any other securities
and shall not constitute an offer, solicitation or sale in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful.
Copyright Business Wire 2014