Tech Income Funding II enters credit agreement for up to $250 million

Chicago, June 6 – Tech Income Funding II LLC, a newly formed subsidiary of Owl Rock Technology Income Corp., signed for a maximum $250 million secured revolving credit facility on May 31, according to an 8-K filing with the Securities and Exchange Commission.

The maximum amount is subject to a borrowing base test.

During the three-year reinvestment period, the loans can be drawn and redrawn.

The facility will mature two years after the reinvestment period ends.

Interest will be at SOFR plus 305 basis points, but the facility can be drawn in other currencies substituting out the appropriate benchmark.

Owl Rock will be the collateral manager and equityholder.

Citibank, NA is the administrative agent.

State Street Bank and Trust Co. is the collateral agent and collateral administrator, Alter Domus (US) LLC is the custodian.

Proceeds from the secured credit facility will be used to finance the origination and acquisition of eligible assets.

Owl Rock is a business development company based in New York.

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