Blue Owl Capital Corp (OBDC): debt financing — Blue Owl Capital Corp completes $260M CLO refinancing with notes maturing 2036

Blue Owl Capital Corp

Issued $228M Class A-R notes at Benchmark+1.85% and $32M Class B-R notes at Benchmark+2.35%.
Secured notes mature in April 2036; proceeds used to redeem prior CLO notes and pay expenses.
Preferred shares of $135.31M remain outstanding; Issuer merged with original CLO issuer.
Blue Owl Credit Advisors serves as collateral manager, waiving fees but may rescind with offset.
Adviser OCA may purchase additional middle-market loans through April 2028 using proceeds.

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 Capital Corp incurred loan of $260,000,000 term debt securitization refinancing with State Street Bank and Trust Company at Benchmark plus 1.85% and (ii) $32,000,000 of AA(sf) Class B-R Notes, which bear maturing Payment Date in April 2036.

Instrument: loan
Principal: $260,000,000 term debt securitization refinancing
Counterparty: State Street Bank and Trust Company
Rate: Benchmark plus 1.85% and (ii) $32,000,000 of AA(sf) Class B-R Notes, which bear
Maturity: Payment Date in April 2036
Event: incurrence

Exact text from the filing

On April 11, 2024 (the “Refinancing Date”), Blue Owl Capital Corporation (the “Company”) completed a $260,000,000 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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Source: SEC EDGAR

accession 0001193125-24-097814

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