Owl Rock ups revolver to $590 million, extends to 2023, cuts interest

By Sarah Lizee

Olympia, Wash., April 3 – Owl Rock Capital Corp. amended its senior secured revolving credit agreement and guarantee and security agreement on March 29 to increase commitments to $590 million from $400 million, according to an 8-K filing with the Securities and Exchange Commission.

Additionally, the amendment increased the accordion feature to $1.25 billion from $750 million.

The maturity date was extended to March 29, 2023 from Feb. 1, 2021 and the commitment termination date was extended to March 29, 2022 from Jan. 31, 2020.

Interest was decreased to Libor plus 200 basis points from 225 bps.

Owl Rock is a business development company is based in New York.

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