Owl Rock Capital Corporation (NYSE: ORCC) announced that it has priced an underwritten public offering of $500 million in aggregate principal amount of 4.250% notes due 2026. The notes will mature on January 15, 2026 and may be redeemed in whole or in part at ORCC's option at any time at par plus a "make-whole" premium, if applicable.
BofA Securities, Inc., MUFG Securities Americas Inc., SMBC Nikko Securities America, Inc., SunTrust Robinson Humphrey, Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, ING Financial Markets LLC, RBC Capital Markets, LLC and SG Americas Securities, LLC are acting as joint book-running managers for this offering. Compass Point Research & Trading, LLC, Credit Suisse Securities (USA) LLC, ICBC Standard Bank Plc, Janney Montgomery Scott LLC, JMP Securities LLC, Keefe, Bruyette & Woods, Inc., Ladenburg Thalmann & Co. Inc., Morgan Stanley & Co. LLC, PNC Capital Markets LLC, Raymond James & Associates, Inc., R. Seelaus & Co., LLC, Seaport Global Securities LLC and Wells Fargo Securities, LLC are acting as co-managers for this offering. The offering is expected to close on July 23, 2020, subject to customary closing conditions.
ORCC expects to use the net proceeds of this offering to pay down existing indebtedness under the SPV Asset Facility III, which matures on December 14, 2023.
About Owl Rock Capital Corporation
Owl Rock Capital Corporation (ORCC) is a specialty finance company focused on lending to U.S. middle-market companies. As of March 31, 2020, ORCC had investments in 101 portfolio companies with an aggregate fair value of $8.9 billion. ORCC has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. ORCC is externally managed by Owl Rock Capital Advisors LLC, an SEC-registered investment adviser that is an affiliate of Owl Rock Capital Partners. Owl Rock Capital Partners, together with its subsidiaries, is a New York based direct lending platform with approximately $17.3 billion of assets under management as of March 31, 2020.
