By Cristal Cody
Chicago, June 7 – Owl Rock Technology Finance Corp. sold $300 million of 2.5% notes due Jan. 15, 2027 (Baa3/BBB-/BBB) at 99.004 to yield 2.693%, according to an FWP filing with the Securities and Exchange Commission on Monday.
The notes priced with a spread of Treasuries plus 190 basis points, low to talk which had the notes in the Treasuries plus 200 bps area, a market source reported.
The notes have a make-whole call with a premium of Treasuries plus 30 bps until the par call date, which falls one month prior to maturity.
Deutsche Bank Securities Inc., ING Financial Markets LLC, J.P. Morgan Securities LLC, MUFG, RBC Capital Markets LLC, SMBC Nikko Securities America Inc. and Truist Securities Inc. are bookrunners of the deal.
The middle-market debt and equity asset management company is based in New York.
| Issuer: | Owl Rock Technology Finance Corp.
|
| Issue: | Notes
|
| Amount: | $300 million
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| Maturity: | Jan. 15, 2027
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| Bookrunners: | Deutsche Bank Securities Inc., ING Financial Markets LLC, J.P. Morgan Securities LLC, MUFG, RBC Capital Markets LLC, SMBC Nikko Securities America Inc. (billing and delivery) and Truist Securities Inc.
|
| Coupon: | 2.5%
|
| Price: | 99.004
|
| Yield: | 2.693%
|
| Spread: | Treasuries plus 190 bps
|
| Call features: | Make-whole call at Treasuries plus 30 bps until one month before maturity when notes can be redeemed at par
|
| Change of control: | At par
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| Trade date: | June 7
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| Settlement date: | June 14
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| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Fitch: BBB
|
| Distribution: | SEC registered
|
| Price talk: | Treasuries plus 200 bps area
|
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