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Published on 10/4/2022 in the Prospect News CLO Daily.

New Issue: Owl Rock Capital prices $399.92 million Owl Rock CLO VIII

Chicago, Oct. 4 – Owl Rock Capital Advisors LLC sold $399.92 million in a collateralized loan obligation being issued by Owl Rock CLO VIII LLC, according to a presale report.

The notes will mature on Nov. 20, 2034.

The CLO consists of $152 million of class A-T senior secured floating-rate notes at SOFR plus 250 basis points, $30 million of class A-L floating-rate loans at SOFR plus 250 bps, $46 million of class A-F 6.02% senior secured fixed-rate notes, $32 million of class B senior secured floating-rate notes at SOFR plus 350 bps, $30 million of class C senior secured deferrable floating-rate notes at SOFR plus 490 bps and $109.92 million of preferred shares.

Owl Rock Capital Advisors LLC will manage the collateral through the end of the reinvestment period on Nov. 20, 2026.

Collateral for the notes consists of speculative-grade senior secured term loans.

The notes can be called starting Nov. 20, 2024.

Natixis Securities Americas LLC was the placement agent.

The alternative asset manager is based in New York.

Issuer:Owl Rock CLO VIII LLC
Issue:Floating-rate notes, floating-rate loans, fixed-rate notes and preferred shares
Amount:$399.92 million
Maturity:Nov. 20, 2034
Structure:Cash flow CLO
Placement agent:Natixis Securities Americas LLC
Manager:Owl Rock Capital Advisors LLC
Call feature:Nov. 20, 2024
Settlement date:Oct. 21
Class A-T notes
Amount:$152 million
Securities:Senior secured floating-rate notes
Coupon:SOFR plus 250 bps
Rating:S&P: AAA
Class A-L notes
Amount:$30 million
Securities:Floating-rate loans
Coupon:SOFR plus 250 bps
Rating:S&P: AAA
Class A-F notes
Amount:$46 million
Securities:Senior secured fixed-rate notes
Coupon:6.02%
Rating:S&P: AAA
Class B notes
Amount:$32 million
Securities:Senior secured floating-rate notes
Coupon:SOFR plus 350 bps
Rating:S&P: AA
Class C notes
Amount:$30 million
Securities:Senior secured deferrable floating-rate notes
Coupon:SOFR plus 490 bps
Rating:S&P: A
Preferred shares
Amount:$109.92 million
Securities:Preferred shares

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