Owl Rock Capital II adds $125 million term commitments, trims rate

By Wendy Van Sickle

Columbus, Ohio, Nov. 3 – Owl Rock Capital Corp. II amended its credit agreement on Oct. 30 to increase commitments to $325 million from $200 million and decrease the interest rate on revolving loans, according to an 8-K filing with the Securities and Exchange Commission.

The additional $125 million of commitments is available to be drawn as term loans for 30 days following the amendment date.

The amendment also reduced the interest rate payable on revolving loans to Libor plus 275 basis points from Libor plus 300 bps.

The interest rate payable on term loans under the credit facility was set at 2.45% during the secured credit facility’s reinvestment period and 2.7% thereafter.

The commitment fee payable on undrawn amounts under the secured credit facility was reduced until April 14, 2021, to 0.5% from 0.6% and on and after April 14, 2021, to 0.75% from 0.9%.

Owl Rock Capital is a business development company based in New York. Owl Rock Technology Finance makes debt and equity investments in technology-related companies.

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