Today's LIBOR Rates
July 28, 2010
1 M |
0.31563 |
 |
3 M |
0.47500 |
|
6 M |
0.68794 |
|
1 YR |
1.06438 |
|
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Ares Capital Closes LIBOR-Based Credit Facilities |
January 25, 2010
According to a company press release, Ares Capital, a specialty finance company serving the middle market, has closed two revolving credit facilities with rates based on LIBOR, the London Interbank Offered Rate. LIBOR is a filtered average of rates that banks charge each other for unsecured, short-term loans.
The first revolving credit facility has been newly expanded from $525 million to $690 million. It has an interest rate of 1% to 3% above LIBOR with no LIBOR floor. The second facility is a combination of two existing facilities with respective rates of LIBOR plus 3.5% and LIBOR plus 4%. The combined facility will have a rate of LIBOR plus 2.75%.