Owl Rock offers $300 million senior notes due 2028; price talk Treasuries plus 200 bps area

By Devika Patel

Knoxville, Tenn., June 4 – Owl Rock Capital Corp. intends to offer $300 million senior notes due June 11, 2028 (expected: Baa3/BBB-/BBB-), according to a 497AD and 424B2 filed with the Securities and Exchange Commission.

Initial price talk is in the Treasuries plus 200 basis points area.

The notes feature a make-whole call until two months prior to maturity and then a par call.

Settlement is expected on June 11.

BofA Securities Inc. is an active bookrunner and will bill and deliver; ING Financial Markets LLC, MUFG, SMBC Nikko Securities America Inc., SG Americas Securities LLC and Truist Securities Inc. are also active bookrunners.

The New York-based middle-market debt and equity asset management company plans to use the proceeds to repay debt, including debt under the company’s $1.295 billion senior secured revolving credit facility, which matures on Sept. 3, 2025, and the SPV asset facility IV, which matures on Aug. 2, 2029.

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