Shares of Ares Capital Corporation (NASDAQ:ARCC) ended Thursday session in red amid volatile trading. The shares closed down -0.10 points or -0.61% at $16.30 with 1.77 million shares getting traded. Post opening the session at $16.38, the shares hit an intraday low of $16.27 and an intraday high of $16.40 and the price vacillated in this range throughout the day. The company has a market cap of $5.12 billion and the numbers of outstanding shares have been calculated to be 313.95 million shares.
On August 4, 2016 Ares Capital Corporation (ARCC) is providing additional details on its financing commitments closed during the second quarter of 2016. Financing commitments made by Ares Capital in the second quarter totaled over $530 million across 11 transactions.
“Ares Capital’s size and scale has always been a key competitive advantage as we are able to offer full financing solutions to our clients,” said Kipp deVeer, Chief Executive Officer of Ares Capital. “Our market-leading position continues to provide us with investment opportunities, which we believe translate into attractive risk-adjusted returns for our shareholders.”
Below is a description of seven transactions that closed during the second quarter.
Advanced Dermatology / Harvest Partners
Ares Capital served as joint lead arranger and joint bookrunner for a $320.0 million senior secured credit facility to support Harvest Partners’ acquisition of Advanced Dermatology. Advanced Dermatology & Cosmetic Surgery is a dermatology-focused physician practice management company, with clinics around the United States which provide clinical, cosmetic, and pathology services.
North American Partners in Anesthesia (NAPA) / American Securities
Ares Capital served as administrative agent and lead arranger for a $150.0 million second lien term loan to support American Securities’ acquisition of NAPA. Founded in 1986, NAPA is a leading single-specialty anesthesia and perioperative management company in the United States. NAPA is comprised of highly respected clinical staff, providing thousands of patients with superior and attentive care.
Shares of Prudential Financial Inc (NYSE:PRU) ended Thursday session in green amid volatile trading. The shares closed up +0.18 points or 0.23% at $78.69 with 2.05 million shares getting traded. Post opening the session at $78.77, the shares hit an intraday low of $78.17 and an intraday high of $79.05 and the price vacillated in this range throughout the day. The company has a market cap of $34.35 billion and the numbers of outstanding shares have been calculated to be 438.74 million shares.
Prudential Financial Inc (PRU) provides insurance, investment management, and other financial products and services in the United States and internationally. It offers primarily life insurance, annuities, retirement-related, mutual funds, and investment management products and services. The company operates through U.S. Retirement Solutions and Investment Management, U.S. Individual Life and Group Insurance, and International Insurance divisions. The U.S. Retirement Solutions and Investment Management division provides individual variable and fixed annuity products; and recordkeeping, plan administration, actuarial advisory, tailored participant education and communication, trustee, and institutional and retail investment services.