Owl Rock gets $350 million credit facility at Libor plus 200 bps

By Wendy Van Sickle

Columbus, Ohio, Aug. 17 – Owl Rock Capital Corp. III entered into a credit agreement on Aug. 12 with State Street Bank and Trust Co. as administrative agent providing for a three-year up to $350 million credit facility that is subject to a borrowing base, according to an 8-K filing with the Securities and Exchange Commission.

PNC Capital Markets LLC is a co-lead arranger.

The company may further expand the credit facility up to a total of $1 billion.

Borrowings bear interest at Libor plus 200 basis points.

There is an unused commitment fee of 25 bps.

The maturity date may be extended by up to 364 days.

Owl Rock is a New York-based middle-market debt and equity asset management company.

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