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Owl Rock extends revolver, revises interest to term SOFR plus 240 bps
By Wendy Van Sickle
Columbus, Ohio, May 10 – Owl Rock Capital Corp. II and its ORCC II Financing LLC and OR Lending II LLC subsidiaries entered into an amended and restated credit agreement on May 6 with Goldman Sachs Bank USA as lead arranger and syndication agent and administrative agent, according to an 8-K filing with the Securities and Exchange Commission.
Changes include the conversion of the benchmark rate to term SOFR from Libor, the extension of the reinvestment period by one year to Nov. 30, 2023, the extension of the maturity date by one year to Nov. 30, 2024 and the increase in the interest spread to 240 basis points from 225 bps.
State Street Bank and Trust Co. is the collateral agent.
Owl Rock is a business development company based in New York.
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