Chicago, June 28 – Owl Rock Capital Advisors LLC priced $396.5 million in a collateralized loan obligation being issued by Owl Rock CLO XII LLC, according to a presale report.
The notes will mature on July 20, 2034.
The CLO consists of $116 million of class A-1L floating-rate loans at SOFR plus 255 basis points, $90 million of class A-1A floating-rate notes at SOFR plus 255 bps, $22 million of class A-1B 6.37% fixed-rate notes, $8 million of class A-2 floating-rate notes at SOFR plus 310 bps, $24 million of class B floating-rate notes at SOFR plus 355 bps and $136.5 million of preference shares.
Owl Rock Capital Advisors LLC will manage the collateral through the end of the reinvestment period on July 20, 2026.
Collateral for the notes consists of middle-market senior secured speculative-grade senior secured term loans.
The notes can be called starting Jan. 20, 2025.
BofA 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.
| Issuer: | Owl Rock CLO XII LLC
|
| Issue: | Floating-rate loans, floating-rate notes, fixed-rate notes and preferred shares
|
| Amount: | $396.5 million
|
| Maturity: | July 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities Inc.
|
| Manager: | Owl Rock Capital Advisors LLC
|
| Call feature: | Jan. 20, 2025
|
| Settlement date: | July 18
|
|
|
| Class A-1L loans
|
| Amount: | $116 million
|
| Securities: | Floating-rate loans
|
| Coupon: | SOFR plus 255 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1A notes
|
| Amount: | $90 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 255 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1B notes
|
| Amount: | $22 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 6.37%
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
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| Amount: | $8 million
|
| Securities: | Floating-rate notes
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| Coupon: | SOFR plus 310 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
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| Amount: | $24 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 355 bps
|
| Rating: | S&P: AA
|
|
|
| Preference shares
|
| Amount: | $136.5 million
|
| Securities: | Preference shares
|
|
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