Owl Rock Capital to price offering of notes due 2026

By Marisa Wong

Los Angeles, Dec. 1 – Owl Rock Capital Corp. plans to price an offering of notes due 2026, according to a 424B2 filing with the Securities and Exchange Commission.

BofA Securities, Inc., Deutsche Bank Securities, Inc., SMBC Nikko Securities America, Inc. and SG Americas Securities, LLC are the joint bookrunners.

Proceeds will be used to pay down existing debt, including the company’s revolving credit facility.

The revolver matures on Sept. 3, 2025 with respect to $1.295 billion of commitments and on April 2, 2024 with respect to the remaining commitments. Amounts drawn under the revolver currently bear interest at a weighted average interest rate of 2.7%.

As of Nov. 30, Owl Rock had $651.3 million outstanding under the revolver.

The New York-based specialty finance company focuses on lending to U.S. middle market companies.

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