ARCC Dividend History & Description — Ares Capital Corp
Ares Capital is a finance company that is a closed-end, non-diversified management investment company. Co. invests mainly in first and second lien senior loans and mezzanine debt, which in some cases includes an equity component. First and second lien senior loans generally are senior debt instruments that rank ahead of subordinated debt of a given portfolio company. Mezzanine debt is subordinated to senior loans and is generally unsecured. The first and second lien senior loans generally have stated terms of three to 10 years and mezzanine debt investments generally have stated terms of up to 10 years. Co. is externally managed by its investment adviser, Ares Capital Management LLC.