Owl Rock Core Income increases revolver commitments to $1.18 billion

By Rebecca Melvin

Concord, N.H., March 2 – Owl Rock Core Income Corp. entered into a second amendment on Feb. 28 to its senior secured revolving credit agreement dated April 14, 2021, lifting the commitments under the facility to $1,175,000,000 from $600 million, according to an 8-K filing with the Securities and Exchange Commission.

An accordion feature permits the facility to be increased up to $1.3 billion. The rate under the facility for U.S. dollar-denominated borrowings was changed to a SOFR-based rate from Libor. The other material terms of the facility, which matures April 14, 2026, were unchanged.

There is a fee on undrawn commitments of 37.5 basis points. Exact interest on the borrowings was not disclosed in the filing.

Sumitomo Mitsui Banking Corp. is administrative agent, swingline lender, issuing bank and lender along with other lenders, MUFG Union Bank, NA, JPMorgan Chase Bank, NA, Bank of America, NA, Deutsche Bank AG New York Branch, State Street Bank and Trust Co., Citibank NA, Royal Bank of Canada and Goldman Sachs Bank USA.

Owl Rock is a business development company based in New York.

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