Blue Owl Technology Finance Corp. (OTF): debt financing — Owl Rock Tech Finance upsizes credit facility to $1.04B, extends maturity to Nov 2027

Blue Owl Technology Finance Corp.

Swingline subfacility increased from $50M to $200M; availability period extended to Nov 2026; maturity extended to Nov 2027.
Maximum initial principal $1.04B, can increase to $1.56B via uncommitted accordion; facility replaces LIBOR with term SOFR.
Removed all maintenance financial covenants except minimum shareholders' equity and asset coverage ratio tests; reset equity test.
Facility secured by first-priority interest in substantially all portfolio investments; funds used for general corporate purposes.
Fee of 0.375% on average daily undrawn amounts; interest rates: Term SOFR + 1.875% or prime rate + 0.875% (lower if borrowing base >1.6x debt).

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Blue Owl Technology Finance Corp. amended revolving credit of $1,040,000,000 with the Lenders at term SOFR plus a margin, or the prime rate plus a margin maturing November 2027.

Instrument: revolving credit
Principal: $1,040,000,000
Counterparty: the Lenders
Rate: term SOFR plus a margin, or the prime rate plus a margin
Maturity: November 2027
Event: amendment

Exact text from the filing

The initial maximum principal amount of the A&R Facility is $1,040,000,000, subject to availability under the borrowing base, which is based on the Company's portfolio investments and other outstanding indebtedness.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Blue Owl Technology Finance Corp. amended Amended and Restated Senior Secured Revolving Credit Agreement with Truist Bank valued at $1,040,000,000 initial maximum principal amount, subject to borrowing base, with potential increase (effective 2022-11-15).

Action: amendment
Agreement: credit facility
Counterparty: Truist Bank
Value: $1,040,000,000 initial maximum principal amount, subject to borrowing base, with potential increase
Effective: 2022-11-15

Exact text from the filing

Item 1.01. Entry into a Material Definitive Agreement. On November 15, 2022, Owl Rock Technology Finance Corp. (the “Company”), a Maryland corporation, entered into an Amended and Restated Senior Secured Revolving Credit Agreement (the “A&R Facility”), which amends and restates in its entirety that certain Senior Secured Revolving Credit Agreement, dated as of March 15, 2019 (as amended, restated, supplemented or otherwise modified prior to November 15, 2022, the “Existing Facility”).

View on SEC.gov

Browse all debt financings →

Blue Owl Technology Finance Corp. filing history →

Source: SEC EDGAR

accession 0001193125-22-289036

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.