Blue Owl units halve commitments to $250 million, extend maturity date

By Wendy Van Sickle

Columbus, Ohio, Sept. 26 – ORCC II Financing LLC and OR Lending II LLC executed a first amendment to their credit agreement dated April 29, 2019 with Goldman Sachs Bank USA as administrative agent to provide for the refinancing of all the existing loans and reduce commitments to $250 million from $500 million, according to an 8-K filing with the Securities and Exchange Commission.

Further, the definition of collateral portfolio requirements, specified change and material amendment was changed; the non-call period was extended through Sept. 20, 2024, the reinvestment period through Nov. 30, 2025 and the scheduled maturity date through Nov. 30, 2026; and the spread was increased by 30 basis points to 270 bps.

The amendment was entered on Sept. 20.

The borrowers are subsidiaries of Blue Owl Capital Corp. II.

The specialty finance company is based in New York.

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