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