Blue Owl Technology Finance Corp. (OTF): debt financing — Blue Owl Technology Finance completes $337.5M CLO refinancing, issues four tranches of secured notes

Blue Owl Technology Finance Corp.

Issued $112.5M Class A-1R (Benchmark+3.05%), $23.5M Class A-2R (6.937%), $53M Class B-1R (Benchmark+4.64%), $15M Class B-2R (8.497%) notes.
Proceeds used to redeem prior notes and pay CLO expenses; notes mature October 15, 2035.
Subsidiary sold/contributed $83.93M par of middle market loans to the issuer as additional collateral.
Blue Owl Technology Credit Advisors serves as collateral manager; fees waived but may be rescinded.
Secured notes placed privately by MUFG Securities and Scotia Capital.

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. incurred senior notes of $337,500,000 at Benchmark plus 3.05% maturing October 15, 2035.

Instrument: senior notes
Principal: $337,500,000
Rate: Benchmark plus 3.05%
Maturity: October 15, 2035
Event: incurrence

Exact text from the filing

On August 23, 2023 (the “Refinancing Date”), Owl Rock Technology Financing 2020-1 LLC, a subsidiary of Blue Owl Technology Finance Corp. (f/k/a Owl Rock Technology Finance Corp.), (the “Company”) completed a $337,500,000 term debt securitization refinancing (the “CLO Refinancing”), also known as a collateralized loan obligation refinancing, which is a form of secured financing incurred by the Company.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Blue Owl Technology Finance Corp. entered into CLO Refinancing Indenture with State Street Bank and Trust Company valued at $337,500,000 term debt securitization refinancing (effective 2023-08-23).

Action: entry
Agreement: credit facility
Counterparty: State Street Bank and Trust Company
Value: $337,500,000 term debt securitization refinancing
Effective: 2023-08-23

Exact text from the filing

On August 23, 2023 (the "Refinancing Date"), Owl Rock Technology Financing 2020-1 LLC, a subsidiary of Blue Owl Technology Finance Corp. (f/k/a Owl Rock Technology Finance Corp.), (the "Company") completed a $337,500,000 term debt securitization refinancing (the "CLO Refinancing"), also known as a collateralized loan obligation refinancing, which is a form of secured financing incurred by the Company.

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Blue Owl Technology Finance Corp. filing history →

Source: SEC EDGAR

accession 0001193125-23-222630

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