Owl Rock Capital to pay down revolver via new notes

By Marisa Wong

Los Angeles, Dec. 1 – Owl Rock Capital Corp. plans to pay down its revolving credit facility using proceeds from an offering of new notes, according to a 424B2 filing with the Securities and Exchange Commission.

The revolver matures on Sept. 3, 2025 with respect to $1.295 billion of commitments and on April 2, 2024 with respect to the remaining commitments.

Amounts drawn under the revolver currently bear interest at a weighted average interest rate of 2.7%.

As of Nov. 30, Owl Rock had $651.3 million outstanding under the revolver.

The New York-based specialty finance company focuses on lending to U.S. middle market companies.

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