Owl Rock extends revolver, revises interest to term SOFR plus 230 bps

By Wendy Van Sickle

Columbus, Ohio, March 22 – ORCC III Financing LLC, a subsidiary of Owl Rock Core Income Corp., entered into an amendment on March 16 to its secured credit facility with Society Generale as agent to extend the revolving period to March 15, 2024, according to an 8-K filing with the Securities and Exchange Commission.

Also, the interest rate for drawn borrowings was changed to term SOFR plus 230 basis points from Libor plus 215 bps, the termination date was extended to March 16, 2026 from July 29, 2024, and the revolving commitments among certain lenders were reallocated.

State Street Bank and Trust Co. is the collateral agent, collateral administrator and document custodian.

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

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