Chicago, Aug. 6 – Owl Rock Capital Advisors LLC refinanced and extended the collateralized loan obligation issued by Owl Rock CLO IV Ltd./Owl Rock CLO IV LLC, a $440.5 million portfolio, according to a pre-sale report.
The notes will mature on Aug. 20, 2033.
The CLO consists of $252 million of class A-1-R senior secured floating-rate notes at Libor plus 160 basis points, $40.5 million of class A-2-R senior secured floating-rate notes at Libor plus 190 bps and$148 million of subordinated notes.
Originally, the CLO had $236.5 million of class A-1 floating-rate notes at Libor plus 262 basis points, $15.5 million of class A-2 floating-rate notes at Libor plus 340 bps and $178.2 million of subordinated notes.
Owl Rock Capital Advisors LLC will manage the collateral through the end of the reinvestment period on Aug. 20, 2025.
The notes can be called starting July 9, 2023.
Natixis Securities Americas LLC was the placement agent.
Owl Rock Capital Advisors is a New York-based alternative asset manager.
| Issuer: | Owl Rock CLO IV Ltd./Owl Rock CLO IV LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $440.5 million
|
| Maturity: | Aug. 20, 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | Owl Rock Capital Advisors LLC
|
| Call feature: | July 9, 2023
|
| Settlement date: | July 9
|
|
|
| Class A-1-R notes
|
| Amount: | $252 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2-R notes
|
| Amount: | $40.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 190 bps
|
| Rating: | S&P: AA
|
|
|
| Subordinated notes
|
| Amount: | $148 million
|
| Securities: | Subordinated notes
|
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