Owl Rock ups revolver to $850 million via two increases; one temporary

By Wendy Van Sickle

Columbus, Ohio, Nov. 3 – Owl Rock Capital Corp. added $100 million via the accordion feature of its revolving credit facility dated Aug. 1, 3016, with Wells Fargo Bank, NA as administrative agent, and temporarily increased Wells’ commitment by $50 million, according to an 8-K filing with the Securities and Exchange Commission.

The $100 million increase came from PNC Bank NA.

The two increases bring the total revolver amount to $850 million.

Unless the temporary increase is extended, Wells’ commitment will automatically decrease by $50 million on Jan. 2.

The increases were effected via an amendment and an increase agreement, both on Thursday.

Additionally, the amendment expanded the credit facility’s accordion feature, allowing the facility to be increased up to a total of $900 million.

The private business development company is based in New York.

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