Chicago, May 28 – Owl Rock Capital Advisors LLC sold a $395.5 million middle-market CLO issued by Owl Rock CLO VI Ltd./Owl Rock CLO VI LLC, according to a pre-sale report.
The CLO matures June 20, 2032.
The portfolio has $224 million of class A senior secured floating-rate notes at Libor plus 145 basis points, $26 million of class B-1 senior secured floating-rate notes at Libor plus 175 bps, $10 million of class B-F 2.83% senior secured fixed-rate notes and $135.5 million of preferred shares.
SG Americas Securities LLC is the initial purchaser.
Owl Rock is the collateral manager through the end of the reinvestment period, June 20, 2024.
Collateral consists primarily of middle-market speculative-grade senior secured term loans.
The non-call period ends May 5, 2023.
The alternative asset manager is based in New York.
| Issuers: | Owl Rock CLO VI Ltd./Owl Rock CLO VI LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and preferred shares
|
| Amount: | $395.5 million
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| Maturity: | June 20, 2032
|
| Structure: | Cash flow CLO
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| Placement agent: | SG Americas Securities LLC
|
| Manager: | Owl Rock Capital Advisors LLC
|
| Call feature: | May 5, 2023
|
| Settlement date: | May 5
|
|
|
| Class A notes
|
| Amount: | $224 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | Libor plus 145 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
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| Amount: | $26 million
|
| Securities: | Senior Secured floating-rate notes
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| Coupon: | Libor plus 175 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-F notes
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| Amount: | $10 million
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| Securities: | Senior Secured fixed-rate notes
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| Coupon: | 2.83%
|
| Rating: | S&P: AA
|
|
|
| Preferred shares
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| Amount: | $135.5 million
|
| Securities: | Preferred shares
|
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