Blue Owl Technology Finance Corp. II: debt financing — Blue Owl Technology Finance Corp. II issues $700M of 6.750% notes due 2029

Blue Owl Technology Finance Corp. II

$700M aggregate principal, 6.750% interest payable semi-annually, maturing April 4, 2029.
Net proceeds of approximately $682.6M used to repay existing Subscription Credit Facility borrowings.
Notes are unsecured, rank pari passu with existing 8.50% notes due 2028; effectively subordinated to secured debt.
Company entered into Registration Rights Agreement to exchange notes for registered securities within 365 days.

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. II incurred senior notes of $700.0 million aggregate principal amount with Mizuho Securities USA LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc. and Truist Securities, Inc. at 6.750% maturing April 4, 2029.

Instrument: senior notes
Principal: $700.0 million aggregate principal amount
Counterparty: Mizuho Securities USA LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc. and Truist Securities, Inc.
Rate: 6.750%
Maturity: April 4, 2029
Event: incurrence

Exact text from the filing

completed its previously announced offering of $700.0 million aggregate principal amount of its 6.750% notes due 2029

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Blue Owl Technology Finance Corp. II entered into Purchase Agreement with Mizuho Securities USA LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc. and Truist Securities, Inc., as representatives of the several initial purchasers (effective 2024-03-27).

Action: entry
Agreement: notes offering
Counterparty: Mizuho Securities USA LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc. and Truist Securities, Inc., as representatives of the several initial purchasers
Effective: 2024-03-27

Exact text from the filing

On April 4, 2024, Blue Owl Technology Finance Corp. II (the “Company”) completed its previously announced offering of $700.0 million aggregate principal amount of its 6.750% notes due 2029 (the “Notes”). The offering was consummated pursuant to the terms of a purchase agreement (the “Purchase Agreement”) dated March 27, 2024 among the Company and Blue Owl Technology Credit Advisors II LLC (the “Adviser”), on the one hand, and Mizuho Securities USA LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc. and Truist Securities, Inc., as representatives of the several initial purchasers listed on Schedule 1 thereto (the “Initial Purchasers”), on the other hand.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Blue Owl Technology Finance Corp. II entered into Base Indenture with Deutsche Bank Trust Company Americas (effective 2024-04-04).

Action: entry
Agreement: notes offering
Counterparty: Deutsche Bank Trust Company Americas
Effective: 2024-04-04

Exact text from the filing

The Notes were issued pursuant to an Indenture dated as of April 4, 2024 (the “Base Indenture”), between the Company and Deutsche Bank Trust Company Americas (the “Trustee”), and a First Supplemental Indenture, dated as of April 4, 2024 (the “First Supplemental Indenture” and together with the Base Indenture, the “Indenture”), between the Company and the Trustee.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Blue Owl Technology Finance Corp. II entered into Registration Rights Agreement with Mizuho Securities USA LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc. and Truist Securities, Inc., as representatives of the Initial Purchasers (effective 2024-04-04).

Action: entry
Agreement: notes offering
Counterparty: Mizuho Securities USA LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc. and Truist Securities, Inc., as representatives of the Initial Purchasers
Effective: 2024-04-04

Exact text from the filing

In connection with the offering, the Company entered into a Registration Rights Agreement, dated as of April 4, 2024 (the “Registration Rights Agreement”), with Mizuho Securities USA LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc. and Truist Securities, Inc., as representatives of the Initial Purchasers.

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-24-087299

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