Chicago, Aug. 4 – Blue Owl Technology Credit Advisors LLC is refinancing for $337.5 million the notes and preferred shares in a collateralized loan obligation issued by Owl Rock Technology Financing 2020-1 LLC, according to a presale report.
The notes will mature on Oct. 15, 2035.
The refinanced CLO consists of $112.5 million of class A-1R senior secured floating-rate notes at SOFR plus 305 basis points, $23.5 million of class A-2R 6.937% senior secured fixed-rate notes, $53 million of class B-1R senior secured floating-rate notes at SOFR plus 464 bps, $15 million of class B-2R senior secured 8.497% fixed-rate notes at and $133.5 million of subordinated notes.
Blue Owl Technology Credit Advisors LLC will manage the collateral through the end of the reinvestment period on Oct. 15, 2027.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting Oct. 15, 2025.
MUFG Securities Americas Inc. and Scotia Capital (USA) Inc. are the placement agents.
The alternative asset manager is based in New York.
| Issuer: | Owl Rock Technology Financing 2020-1 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and preferred shares
|
| Amount: | $337.5 million
|
| Maturity: | Oct. 15, 2035
|
| Structure: | Cash flow CLO
|
| Placement agents: | MUFG Securities Americas Inc. and Scotia Capital (USA) Inc.
|
| Manager: | Blue Owl Technology Credit Advisors LLC
|
| Call feature: | Oct. 15, 2025
|
| Pricing date: | Aug. 3
|
| Settlement date: | Aug. 23
|
|
|
| Class A-1R notes
|
| Amount: | $112.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 305 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2R notes
|
| Amount: | $23.5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.937%
|
| Rating: | S&P: AAA
|
|
|
| Class B-1R notes
|
| Amount: | $53 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 464 bps
|
| Rating: | S&P: A
|
|
|
| Class B-2R notes
|
| Amount: | $15 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 8.497%
|
| Rating: | S&P: A
|
|
|
| Preferred shares
|
| Amount: | $133.5 million
|
| Securities: | Preferred shares
|
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