Chicago, Dec. 28 – Blue Owl Credit Advisors LLC refinanced and extended for $520 million the collateralized loan obligation issued by Owl Rock CLO I LLC, according to a presale report.
The notes will mature on Feb. 20, 2036.
The CLO consists of $221.4 million of class A-NR senior secured floating-rate notes at SOFR plus 240 basis points, $50 million of class A-LR senior secured floating-rate loans at SOFR plus 240 bps, $25 million of class A-FR 6.35% senior secured fixed-rate notes, $41.6 million of class B-R senior secured floating-rate notes at SOFR plus 325 bps, $52 million of class C senior secured deferrable floating-rate notes at SOFR plus 425 bps and $130 million of preferred shares.
The CLO originally consisted of $242 million of class A floating-rate notes at Libor plus 180 bps, $50 million of class A-L loans at Libor plus 180 bps, $30 million of 4.17% class A-F fixed-rate notes, $68 million of class B floating-rate notes at Libor plus 270 bps and $207.1 million of subordinated notes.
Blue Owl Credit Advisors LLC will manage the collateral through the end of the reinvestment period on Feb. 20, 2028.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting Feb. 20, 2026.
Natixis Securities Americas LLC was the placement agent.
Blue Owl Credit Advisors is a New York-based alternative asset manager.
| Issuer: | Owl Rock CLO I LLC
|
| Issue: | Floating-rate notes, floating-rate loans and preferred shares
|
| Amount: | $520 million
|
| Maturity: | Feb. 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | Blue Owl Credit Advisors LLC
|
| Call feature: | Feb. 20, 2026
|
| Pricing date: | Dec. 19
|
| Settlement date: | Jan. 4
|
|
|
| Class A-NR notes
|
| Amount: | $221.4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-LR loans
|
| Amount: | $50 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-FR notes
|
| Amount: | $25 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.35%
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $41.6 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 325 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $52 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 425 bps
|
| Rating: | S&P: A
|
|
|
| Preferred shares
|
| Amount: | $130 million
|
| Securities: | Preferred shares
|
|
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