Section 1.01 Entering into a Material Definitive Agreement
On August 26, 2022, Owl Rock Capital Corporation (the “Company”) has entered into an Amended and Restated Senior Secured Revolving Credit Agreement (the “A&R Facility”), which amends and reaffirms in its entirety that certain senior secured revolving credit agreements, dated February 1, 2017 (as amended, restated, supplemented or otherwise modified before August 26, 2022, the “existing installation”). The parties to the A&R Facility include the Company, as borrower, the lenders from time to time parties thereto (each a “Lender” and collectively, the “Lenders”) and Truist Bank as an administrative agent. The A&R Facility provides, among other things, (a) an increase in the aggregate principal amount of revolving credit commitments under the A&R Facility of
$1.655 billion at $1.855 billion(b) an extension of the accordion function, subject to the satisfaction of various conditions, which could bring the total commitments under the credit agreement to $2.2 billion until
$2.7825 billion(c) an increase in the size of the Swingline sub-installation of $50 million at
$200 million(d) an extension, for Extending Lenders (as identified in the A&R Facility) only, of the revolver availability period from September 2025 at
August 2026(e) an extension, for Extending Lenders (as identified in the A&R Facility) only, of the scheduled maturity date from September 2026 at August 2027(f) the removal of all financial maintenance covenants other than the minimum capital test and the asset coverage ratio test, (g) a reset of the minimum capital test and (h) the replacement of the provisions of LIBOR benchmark under existing facility with SOFR benchmark provisions.
Item 2.03 – Creation of a direct financial obligation
The information set out in point 1.01 above is incorporated by reference in this point 2.03.
Item 9.01 – Financial statements and supporting documents
10.1 Amended and Restated Senior Secured Revolving Credit Agreement, dated as
of August 26, 2022, by and among Owl Rock Capital Corporation, the Lenders
party thereto and Truist Bank, as Administrative Agent.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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