Ares Capital 2Q17 Earnings Call Notes

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Kipp deVeer

Banks more confident in syndicating their paper

“The reality is we do bigger deals, we often compete with banks in markets where there are lots of loan inflows and your finding folks that will buy into a more mid-market oriented deals from the banks. The banks feel more confident in their ability to syndicate paper. That is an environment that we’re experiencing now. I think as a result you have seen some smaller — not as many big deals from us because the banks can easily underwrite and distribute paper. We’re hopeful that its slows – its slowed down in the loan market over the last couple of months that, that shifts back a little bit our way. It typically does, towards the end of the year as banks I think are more careful going into September than perhaps they are going into April.”