Blue Owl Capital extends revolver, lifts facility to $575 million

By Marisa Wong

Los Angeles, Dec. 28 – Blue Owl Capital Corp. III entered into a first amendment to its amended and restated senior secured revolving credit agreement dated Dec. 14, 2022 on Dec. 21, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The amendment, among other things, extends the revolver availability period to December 2027 from December 2026, extends the scheduled maturity date to December 2028 from December 2027, converts a portion of the existing revolver availability into term loan availability and increases the total facility amount to $575 million from $450 million.

In addition, the amendment reduces the credit adjustment spread for term benchmark loans to 10 basis points for all loan tenors. Before the amendment, the spread was 10 bps for one-month tenor loans, 15 bps for three-month tenor loans and 25 bps for six-month tenor loans.

JPMorgan Chase Bank, NA is the administrative agent.

Formerly known as Owl Rock Capital Corp. III, the borrower is an alternative asset manager based in New York.

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