Chicago, March 1 – Owl Rock Capital Advisors LLC sold $396.7 million in a collateralized loan obligation being issued by Owl Rock CLO X LLC, according to a presale report.
The notes will mature on April 20, 2035.
The CLO consists of $228 million of class A senior secured floating-rate notes at SOFR plus 245 basis points, $32 million of class B senior secured floating-rate notes at SOFR plus 360 bps and $136.7 million of preferred shares.
Owl Rock Capital Advisors LLC will manage the collateral through the end of the reinvestment period on April 20, 2027.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting March 9, 2025.
Deutsche Bank Securities Inc. was the placement agent.
The alternative asset manager is based in New York. The manager is a subsidiary of Blue Owl Capital Inc. This is Owl Rock’s first CLO in 2023.
| Issuer: | Owl Rock CLO X LLC
|
| Issue: | Floating-rate notes and preferred shares
|
| Amount: | $396.7 million
|
| Maturity: | April 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank Securities Inc.
|
| Manager: | Owl Rock Capital Advisors LLC
|
| Call feature: | March 9, 2025
|
| Settlement date: | March 9
|
|
|
| Class A notes
|
| Amount: | $228 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
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| Amount: | $32 million
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| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 360 bps
|
| Rating: | S&P: AA
|
|
|
| Preferred shares
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| Amount: | $136.7 million
|
| Securities: | Preferred shares
|
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