--- schema_version: "secwatch.filing_event.v1" accession: "0001193125-23-069106" form_type: "8-K" ticker: "OBDC" cik: "0001655888" company_name: "Blue Owl Capital Corp" filed_at: "2023-03-13T23:59:59+00:00" generated_at: "2026-06-18T04:31:14.199378+00:00" event_type: "debt" sentiment: "positive" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # Owl Rock Capital closes $397.7M CLO; issues $228M Class A and $32M Class B notes, terminates prior credit facility ## Summary - Completed $397.7M CLO through subsidiary Owl Rock CLO X; issued $228M Class A notes (SOFR+2.45%) and $32M Class B notes (SOFR+3.60%) due 2035. - Concurrently, issued 137,700 preferred shares ($137.7M) to Owl Rock Capital as subordinated securities in the CLO transaction. - Terminated Loan Financing and Servicing Agreement of ORCC Financing III; repaid all outstanding loans. - Proceeds from CLO for general corporate purposes; ORCA to serve as collateral manager. ## SEC filing metadata - accession: 0001193125-23-069106 - form_type: 8-K - ticker: OBDC - cik: 0001655888 - company_name: Blue Owl Capital Corp - filed_at: 2023-03-13T23:59:59+00:00 - event_type: debt - sentiment: positive - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 1.01, 1.02, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1655888/000119312523069106/0001193125-23-069106-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1655888/000119312523069106/d363501d8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001193125-23-069106 - JSON: https://secwatch.observer/filing/0001193125-23-069106.json - Plain text: https://secwatch.observer/filing/0001193125-23-069106.txt ## Key facts - Material Agreements Blue Owl Capital Corp entered into ORCC Financing III Loan Sale Agreement with ORCC Financing III LLC valued at Sale of approximately $141.306 million par amount of middle market loans to the Issuer (effective 2023-03-09). - Action: entry - Counterparty: ORCC Financing III LLC - Value: Sale of approximately $141.306 million par amount of middle market loans to the Issuer - Effective: 2023-03-09 source text: The remainder of the initial portfolio assets securing the Secured Notes consisted of approximately $141.306 million par amount of middle market loans purchased by the Issuer from ORCC Financing III LLC, a wholly-owned subsidiary of the Company, under an additional loan sale agreement executed on the Closing Date between the Issuer and ORCC Financing III LLC (the "ORCC Financing III Loan Sale Agreement"). evidence_url: https://www.sec.gov/Archives/edgar/data/1655888/000119312523069106/0001193125-23-069106-index.htm - Material Agreements Blue Owl Capital Corp entered into Collateral Management Agreement with Owl Rock Capital Advisors LLC valued at ORCA serves as collateral manager, fees waived but may be rescinded (effective 2023-03-09). - Action: entry - Counterparty: Owl Rock Capital Advisors LLC - Value: ORCA serves as collateral manager, fees waived but may be rescinded - Effective: 2023-03-09 source text: ORCA will serve as collateral manager for the Issuer under a collateral management agreement dated as of the Closing Date (the "Collateral Management Agreement"). evidence_url: https://www.sec.gov/Archives/edgar/data/1655888/000119312523069106/0001193125-23-069106-index.htm - Material Agreements Blue Owl Capital Corp entered into CLO Transaction Indenture with State Street Bank and Trust Company valued at $228,000,000 Class A Notes at SOFR+2.45% and $32,000,000 Class B Notes at SOFR+3.60%, plus $137,700, (effective 2023-03-09). - Action: entry - Agreement: notes offering - Counterparty: State Street Bank and Trust Company - Value: $228,000,000 Class A Notes at SOFR+2.45% and $32,000,000 Class B Notes at SOFR+3.60%, plus $137,700, - Effective: 2023-03-09 source text: On March 9, 2023 (the "Closing Date"), Owl Rock Capital Corporation (the "Company") completed a $397.7 million term debt securitization transaction (the "CLO Transaction"), also known as a collateralized loan obligation transaction, which is a form of secured financing incurred by the Company. evidence_url: https://www.sec.gov/Archives/edgar/data/1655888/000119312523069106/0001193125-23-069106-index.htm - Material Agreements Blue Owl Capital Corp entered into ORCC Loan Sale Agreement with Owl Rock CLO X, LLC valued at Sale of approximately $248.99 million par amount of middle market loans to the Issuer (effective 2023-03-09). - Action: entry - Counterparty: Owl Rock CLO X, LLC - Value: Sale of approximately $248.99 million par amount of middle market loans to the Issuer - Effective: 2023-03-09 source text: As part of the CLO Transaction, the Company entered into a loan sale agreement with the Issuer dated as of the Closing Date (the "ORCC Loan Sale Agreement"), which provided for the sale and contribution of approximately $248.99 million par amount of middle market loans from the Company to the Issuer on the Closing Date and for future sales from the Company to the Issuer on an ongoing basis. evidence_url: https://www.sec.gov/Archives/edgar/data/1655888/000119312523069106/0001193125-23-069106-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.