Blue Owl Capital Corporation filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation
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Item 1.01 – Entry into a Material Definitive Agreement.
On June 12, 2025, ORCC III Financing LLC (“ORCC III Financing”), a wholly owned subsidiary of Blue Owl Capital Corporation (the “Company”), Blue Owl Credit Advisors LLC, as the collateral manager, Societe Generale, as agent (the “Agent”) and swingline lender, each of the lenders party thereto, Alter Domus (US) LLC, as resigning collateral custodian and State Street Bank and Trust Company, as successor collateral custodian, entered into Amendment No. 7 to Loan and Servicing Agreement (the “Seventh Credit Facility Amendment”).
The Seventh Credit Facility Amendment amends the Loan and Servicing Agreement, dated as of July 29, 2021 (as amended, supplemented, amended and restated and otherwise modified from time to time, the “Secured Credit Facility”) by and among ORCC III Financing, as borrower, Blue Owl Capital Corporation, as equityholder, Blue Owl Credit Advisors LLC, as collateral manager, the Agent, State Street Bank and Trust Company, as collateral agent, Alter Domus (US) LLC, as collateral custodian, and the lenders party thereto. The Seventh Credit Facility Amendment amends the Secured Credit Facility to, among other things, (i) replace Alter Domus as collateral custodian with State Street, (ii) extend the end of the Revolving Period from March 16, 2026 to March 16, 2028, (iii) extend the Facility Termination Date from March 15, 2028 to March 15, 2030, (iv) change the applicable margin from 2.6693% for GBP loans and 2.70% for all other loans to an applicable margin of 1.90% for all loans and (v) change the cap for the advance rate from 60% to 62.5%. Additionally, under the Secured Credit Facility, the Borrower will pay certain unused fees subject to minimum utilization during the Revolving Period. To the extent the commitments are terminated or permanently reduced during the first year following the Seventh Credit Facility Amendment, ORCC III Financing may owe a prepayment penalty.
The description above is only a summary of the material provisions of the Seventh Credit Facility Amendment and is qualified in its entirety by reference to a copy of the form of Seventh Credit Facility Amendment, which is filed as Exhibit 10.1 to this current report on Form 8-K and is incorporated herein by reference.
Item 2.03 – Creation of a Direct Financial Obligation.
The information set forth under Item 1.01 above is incorporated by reference into this Item 2.03.
Item 9.01 - Financial Statements and Exhibits.
(d) Exhibits
| Exhibit |
Description | |
| 10.1 | Amendment No. 7 to the Loan and Servicing Agreement, dated as of June 12, 2025, among ORCC III Financing LLC, as Borrower, Blue Owl Capital Corporation, as equityholder, Blue Owl Credit Advisors LLC, as collateral manager, Société Générale, as agent, State Street Bank and Trust Company, as collateral agent and successor collateral custodian, Alter Domus (US) LLC, as resigning collateral custodian, and the lenders party thereto. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Blue Owl Capital Corporation | ||||||
| Date: June 13, 2025 | By: | /s/ Jonathan Lamm | ||||
| Name: | Jonathan Lamm | |||||
| Title: | Chief Financial Officer and Chief Operating Officer | |||||