Owl Rock talks $300 million five-year notes to price in Treasuries plus 325 bps area

By Cristal Cody

Tupelo, Miss., April 5 – Owl Rock Capital Corp. is expected to price a $300 million offering of five-year senior notes (Baa3/BBB-/BBB-) on Friday, according to a market source and a 497AD filing with the Securities and Exchange Commission.

Initial price talk on the notes due April 15, 2024 was in the Treasuries plus 325 basis points spread area.

BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, RBC Capital Markets, LLC, SG Americas Securities LLC and SunTrust Robinson Humphrey Inc. are the bookrunners.

The notes will have a make-whole call and a one-month par call.

Owl Rock Capital held fixed income investor calls on Wednesday and Thursday.

The deal is expected to close on April 10.

Proceeds will be used for general corporate purposes.

Owl Rock Capital is a middle-market debt and equity asset management company based in New York City.

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