Ares Management Corp 8-K, filed Jun 24, 2021
Ares Management Corp (ARES)
About this 8-K
Ares Management Corp filed this 8-K on June 24, 2021.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
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CURRENT REPORT
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Item 8.01 Other Events.
On June 24, 2021, Ares Management Corporation (the “Company”) issued a press release announcing that its indirect subsidiary, Ares Finance Co. III LLC (the “Issuer”), had commenced an offering of fixed-rate resettable subordinated notes due 2051.
On June 24, 2021, the Company issued a press release announcing that the Issuer had priced the previously announced offering of $450,000,000 aggregate principal amount of its 4.125% Fixed-Rate Resettable Subordinated Notes due 2051 (the “notes”). The notes will be fully and unconditionally guaranteed by Ares Holdings L.P., Ares Management LLC, Ares Investments Holdings LLC, Ares Finance Co. LLC and Ares Finance Co. II LLC. The offering is subject to customary closing conditions. The Company intends to use the net proceeds from this offering for general corporate purposes, including debt repayment and to fund growth initiatives.
Copies of these press releases are attached hereto as Exhibit 99.1 and 99.2, respectively, and are incorporated by reference herein.
Forward-Looking Statements
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future events or the Company’s future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Company’s filings with the Securities and Exchange Commission. Ares Management Corporation undertakes no duty to update any forward-looking statements made herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Press Release, dated June 24, 2021 | |
| 99.2 | Press Release, dated June 24, 2021 | |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ARES MANAGEMENT CORPORATION | ||
| Dated: June 24, 2021 | ||
| By: | /s/ Michael R. McFerran | |
| Name: | Michael R. McFerran | |
| Title: | Chief Operating Officer & Chief Financial Officer |
Exhibit 99.1
ARES MANAGEMENT CORPORATION ANNOUNCES
FIXED-RATE RESETTABLE SUBORDINATED NOTES OFFERING
LOS ANGELES — June 24, 2021 — Ares Management Corporation (the “Company”) (NYSE: ARES) today announced that its indirect subsidiary, Ares Finance Co. III LLC, intends to offer fixed-rate resettable subordinated notes (the “notes”), subject to market and other conditions. The notes will be fully and unconditionally guaranteed by Ares Holdings L.P., Ares Management LLC, Ares Investments Holdings LLC, Ares Finance Co. LLC and Ares Finance Co. II LLC. The Company intends to use the net proceeds from this offering for general corporate purposes, including debt repayment and to fund growth initiatives.
The notes will be offered and sold to persons reasonably believed to be qualified institutional buyers in the United States pursuant to Rule 144A and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”).
The notes have not been and will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.
This news release shall not constitute an offer to sell or a solicitation of an offer to purchase the notes or any other securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
Forward-Looking Statements
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future events or the Company’s future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Company’s filings with the Securities and Exchange Commission. Ares Management Corporation undertakes no duty to update any forward-looking statements made herein.
Contact
Ares Management Corporation
Carl Drake, 800-340-6597
cdrake@aresmgmt.com
Exhibit 99.2
ARES MANAGEMENT CORPORATION ANNOUNCES
PRICING OF FIXED-RATE RESETTABLE SUBORDINATED NOTES OFFERING
LOS ANGELES — June 24, 2021 — Ares Management Corporation (the “Company”) (NYSE: ARES) today announced the pricing of the previously announced offering of $450,000,000 of 4.125% Fixed-Rate Resettable Subordinated Notes due 2051 (the “notes”) by Ares Finance Co. III LLC, its indirect subsidiary. The notes will be fully and unconditionally guaranteed by Ares Holdings L.P., Ares Management LLC, Ares Investments Holdings LLC, Ares Finance Co. LLC and Ares Finance Co. II LLC. The offering is subject to customary closing conditions. The Company intends to use the net proceeds from this offering for general corporate purposes, including debt repayment and to fund growth initiatives.
The notes will be offered and sold to persons reasonably believed to be qualified institutional buyers in the United States pursuant to Rule 144A and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”).
The notes have not been and will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.
This news release shall not constitute an offer to sell or a solicitation of an offer to purchase the notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
Forward-Looking Statements
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future events or the Company’s future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Company’s filings with the Securities and Exchange Commission. Ares Management Corporation undertakes no duty to update any forward-looking statements made herein.
Contact
Ares Management Corporation
Carl Drake, 800-340-6597
cdrake@aresmgmt.com