The notes will bear interest at a rate of 5.600% per annum. Interest on the notes will be payable semi-annually in arrears on April 11 and October 11 of each year, commencing April 11, 2025.
The net proceeds from the Offering will be approximately $737.7 million, after deducting the underwriting discount, but before offering expenses. Ares intends to use the net proceeds from the Offering for (i) the payment of a portion of the cash consideration due in respect of Ares' previously announced acquisition of the international business of GLP Capital Partners Limited and certain of its affiliates, excluding its operations in Greater China ("GCP International"), and existing capital commitments to certain managed funds (the "GCP Acquisition") and related fees, costs and expenses and/or (ii) general corporate purposes, including repayment of debt, other strategic acquisitions and growth initiatives. Pending such use, Ares may invest the net proceeds in short-term investments.
