Blue Owl Technology Finance Corp. II: debt financing — Blue Owl Tech Finance II issues $75M 8.50% senior notes due 2028

Blue Owl Technology Finance Corp. II

$75,000,000 aggregate principal of Series 2023A Notes, fixed 8.50% interest, due Sep 27, 2028.
Interest payable semiannually on Mar 27 and Sep 27; first payment Mar 27, 2024.
Notes guaranteed by three subsidiaries: OR Tech Lending II LLC, ORTF II FSI LLC, ORTF II BC 2 LLC.
Covenants include minimum net worth of $1,012,092,000 and asset coverage ratio of 1.50:1.
Step-up interest provisions for Below Investment Grade or Secured Debt Ratio events (up to +2.00%).

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Blue Owl Technology Finance Corp. II incurred senior notes of $75,000,000 with qualified institutional investors at 8.50% per year maturing September 27, 2028.

Instrument: senior notes
Principal: $75,000,000
Counterparty: qualified institutional investors
Rate: 8.50% per year
Maturity: September 27, 2028
Event: incurrence

Exact text from the filing

On September 27, 2023, Blue Owl Technology Finance Corp. II (the “Company”) entered into a Note Purchase Agreement (the “Note Purchase Agreement”) governing the issuance of $75,000,000 in aggregate principal amount of Series 2023A Notes, due September 27, 2028, with a fixed interest rate of 8.50% per year (the “Series 2023A Notes”), to qualified institutional investors in a private placement.

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

Blue Owl Technology Finance Corp. II entered into Note Purchase Agreement with qualified institutional investors valued at $75,000,000 Series 2023A Notes, due September 27, 2028, fixed interest rate 8.50% per year (effective 2023-09-27).

Action: entry
Agreement: notes offering
Counterparty: qualified institutional investors
Value: $75,000,000 Series 2023A Notes, due September 27, 2028, fixed interest rate 8.50% per year
Effective: 2023-09-27

Exact text from the filing

On September 27, 2023, Blue Owl Technology Finance Corp. II (the “Company”) entered into a Note Purchase Agreement (the “Note Purchase Agreement”) governing the issuance of $75,000,000 in aggregate principal amount of Series 2023A Notes, due September 27, 2028, with a fixed interest rate of 8.50% per year (the “Series 2023A Notes”), to qualified institutional investors in a private placement.

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Source: SEC EDGAR

accession 0001193125-23-247456

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