Chicago, Feb. 27 – Blue Owl Credit Advisors LLC priced $597 million in a collateralized loan obligation being issued by Owl Rock CLO XVI LLC, according to a presale report.
The CLO will mature on April 20, 2036.
The transaction consists of $342 million of class A senior secured floating-rate notes at SOFR plus 200 basis points, $48 million of class B senior secured floating-rate notes at SOFR plus 250 bps, $30 million of class C senior secured deferrable floating-rate notes at SOFR plus 330 bps and $177 million of preferred shares.
Blue Owl Credit Advisors LLC will manage the collateral through the end of the reinvestment period on April 20, 2028.
Collateral consists of middle-market speculative-grade senior secured term loans.
The CLO can be called starting March 7, 2026.
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.
| Issuer: | Owl Rock CLO XVI LLC
|
| Issue: | Floating-rate notes and preferred shares
|
| Amount: | $597 million
|
| Maturity: | April 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank Securities Inc.
|
| Manager: | Blue Owl Credit Advisors LLC
|
| Call feature: | March 7, 2026
|
| Pricing date: | Feb. 22
|
| Settlement date: | March 7
|
|
|
| Class A notes
|
| Amount: | $342 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $48 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 330 bps
|
| Rating: | S&P: A
|
|
|
| Preferred shares
|
| Amount: | $177 million
|
| Securities: | Preferred shares
|
|
|
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