Ares Capital (ARCC) and Ares Strategic Income Fund said Tuesday they have increased the size of their revolving credit facilities, improved terms, and extended maturities to May 2031.

Ares Capital increased its credit facility by about $170 million to roughly $5.5 billion, while Ares Strategic Income Fund raised its facility by $850 million to around $4.1 billion.

Both also lowered borrowing costs by 0.10% annually after removing the SOFR credit spread adjustment, they said.

Ares Capital shares were 0.4% higher in premarket trading.