News

Ares Dynamic Credit Allocation Fund Declares Monthly Distributions of $0.117 Per Share

Ares Dynamic Credit Allocation Fund, Inc. (the “Fund”) (NYSE: ARDC) announced the declaration of monthly distributions for the next three months of $0.117 per common share, payable as noted below.

Ares Multi-Strategy Credit Fund, Inc. Declares Initial Monthly Distribution of $0.1525 per Share

Ares Multi-Strategy Credit Fund, Inc. has invested approximately 75% of the proceeds (equity and assumed debt proceeds) received at the closing of its initial public offering on October 31, 2013. As of November 21, 2013, the Fund had an effective duration of 1.66 years with approximately 39% of assets invested in senior secured bank loans, 53% in high yield bonds and 8% in collateralized loan obligations.

Ares Management Announces $130 Million Initial Public Offering of Ares Multi-Strategy Credit Fund, Inc.

Ares Management LLC is pleased to announce the successful initial public offering of Ares Multi-Strategy Credit Fund, Inc. (“ARMF” or the “Fund”), a closed-end management company that is externally managed by a wholly-owned subsidiary of Ares Management LLC, a global alternative asset manager and SEC- registered investment adviser with approximately $68 billion of committed capital under management as of September 30, 2013. The Fund priced an offering of 5.2 million shares at a price of $25.00 per share, for a total issuance of $130 million. The total issuance may reach up to $149.5 million should the underwriters exercise their over-allotment option in full, which may or may not occur. Shares will commence trading today on the New York Stock Exchange under the symbol ARMF (NYSE: ARMF). Closing of the offering is expected to occur on October 31, 2013, subject to customary closing conditions.

Ares Dynamic Credit Allocation Fund Declares Monthly Distributions of $0.117 per Share

Ares Dynamic Credit Allocation Fund (NYSE: ARDC) announced the declaration of monthly distributions for the next three months of $0.117 per common share, payable as noted below. Based on the Fund’s initial public offering price of $20.00 per share and current share price of $18.97 (as of its close on July 9, 2013), the distributions represent an annualized distribution of 7.02% and 7.40%, respectively (calculated by annualizing the distribution amount and dividing it by the IPO share price or current price, as the case may be). Information regarding distribution rate is included for informational purposes only and is not necessarily indicative of future results, the achievement of which cannot be assured.

Ares Dynamic Credit Allocation Fund Declares Monthly Distributions of $0.117 per Share

Ares Dynamic Credit Allocation Fund (NYSE: ARDC) announced the declaration of monthly distributions for the next three months of $0.117 per common share, payable as noted below. Based on the Fund’s initial public offering price of $20.00 per share and current share price of $19.83 (as of its close on April 9, 2013), the distributions represent an annualized distribution rate of 7.02% and 7.08%, respectively (calculated by annualizing the distribution amount and dividing it by the IPO share price or current price, as the case may be). Information regarding distribution rate is included for informational purposes only and is not necessarily indicative of future results, the achievement of which cannot be assured.