Chicago, July 12 – Owl Rock Capital Advisors LLC priced $350.47 million in a collateralized loan obligation being issued by Owl Rock CLO VII LLC, according to a presale report.
The notes will mature on July 20, 2033.
The CLO consists of $48 million of class A-1 senior secured floating-rate notes at SOFR plus 210 basis points, $75 million of class A-L1 loans floating-rate notes at SOFR plus 210 bps, $50 million of class A-L2 loans floating-rate notes at SOFR plus 210 bps, $24 million of class A-2 5.% senior secured fixed-rate notes, $6 million of class B-1 senior secured floating-rate notes at SOFR plus 285 bps, $26.15 million of class B-2 5.71% senior secured fixed-rate notes, $10 million of class C 6.86% senior secured deferrable fixed-rate notes and $111.32 million of subordinated notes.
Owl Rock Capital Advisors LLC will manage the collateral through the end of the reinvestment period on July 20, 2025.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting July 26, 2024.
SG Americas Securities LLC was the placement agent.
The alternative asset manager is based in New York.
| Issuer: | Owl Rock CLO VII LLC
|
| Issue: | Floating-rate notes, floating-rate loans, fixed-rate notes and subordinated notes
|
| Amount: | $350.47 million
|
| Maturity: | July 20, 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | SG Americas Securities LLC
|
| Manager: | Owl Rock Capital Advisors LLC
|
| Call feature: | July 26, 2024
|
| Settlement date: | July 26
|
|
|
| Class A-1 notes
|
| Amount: | $48 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-L1 loans
|
| Amount: | $75 million
|
| Securities: | Loans
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-L2 loans
|
| Amount: | $50 million
|
| Securities: | Loans
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $24 million
|
| Securities: | Senior Secured fixed-rate notes
|
| Coupon: | 5%
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $6 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | SOFR plus 285 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $26.15 million
|
| Securities: | Senior Secured fixed-rate notes
|
| Coupon: | 5.71%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $10 million
|
| Securities: | Senior Secured Deferrable fixed-rate notes
|
| Coupon: | 6.86%
|
| Rating: | S&P: A
|
|
|
| Subordinated notes
|
| Amount: | $111.32 million
|
| Securities: | Subordinated notes
|
|
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