By Cristal Cody
Chicago, Feb. 1 – Owl Rock Core Income Corp. priced $500 million of 4.7% five-year senior notes (Baa3) in the Tuesday market, a source told Prospect News.
The notes priced with a Treasuries plus 310 basis points, 15 bps low to talk in the 325 bps area.
The deal was upsized by $200 million from $300 million.
Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and RBC Capital Markets Corp. are bookrunners for the Rule 144A deal.
Proceeds, according to Moody’s Investors Service, will be used to repay secured debt.
Owl Rock is a business development company based in New York.
| Issuer: | Owl Rock Core Income Corp.
|
| Amount: | $500 million
|
| Issue: | Senior notes
|
| Maturity: | Feb. 8, 2027
|
| Bookrunners: | Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and RBC Capital Markets Corp.
|
| Coupon: | 4.7%
|
| Spread: | Treasuries plus 310 bps
|
| Trade date: | Feb. 1
|
| Ratings: | Moody’s: Baa3
|
| Distribution: | Rule 144A
|
| Price talk: | Treasuries plus 325 bps area
|
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