By Rebecca Melvin and Cristal Cody
Concord, N.H., March 23 – Owl Rock Core Income Corp. priced an upsized $500 million of 5.5% notes due March 21, 2025 (BBB-) with a spread of 315 basis points over Treasuries, according to a market source Wednesday.
The deal was initially expected to be $300 million in size, and was talked at a spread in the Treasuries plus 325 bps area.
BofA Securities, Inc., MUFG and SMBC Nikko Securities America Inc. were the bookrunners.
Owl Rock is a business development company based in New York.
| Issuer: | Owl Rock Core Income Corp.
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| Amount: | $500 million
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| Issue: | Notes
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| Maturity: | March 21, 2025
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| Bookrunners: | BofA Securities, Inc., MUFG and SMBC Nikko Securities America Inc.
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| Coupon: | 5.5%
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| Spread: | Treasuries plus 315 bps
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| Trade date: | March 22
|
| Ratings: | S&P: BBB-
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| Price talk: | Treasuries plus 325 bps area
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