Owl Rock plans notes due 2027 via five bookrunners to repay revolver

By Devika Patel

Knoxville, Tenn., April 19 – Owl Rock Capital Corp. intends to offer notes due 2027, according to a 497 filed with the Securities and Exchange Commission.

The notes feature a make-whole call and then a par call.

BofA Securities Inc., J.P. Morgan Securities LLC, MUFG, RBC Capital Markets LLC and SMBC Nikko Securities America Inc. are the bookrunners.

The New York-based middle-market debt and equity asset management company plans to use the proceeds to repay debt, including debt under the company’s $1.295 billion senior secured revolving credit facility, which matures on Sept. 3, 2025.

Amounts drawn under the revolver currently bear interest at a weighted average interest rate of 2.1%. As of March 31, there was $553.5 million outstanding under the revolver.

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