Owl Rock Capital Corp ORCC:NYSE

Last Price$12.82NYSE Previous Close - Last Trade as of 6:30PM ET 6/05/20

Today's Change+0.14(1.10%)
Bid (Size)$12.50 (15)
Ask (Size)$17.80 (1)
Day Low / High$12.76 - 13.01
Volume1.4 M

Owl Rock Capital Reports Substantial Liquidity to Weather COVID-19; Stock Rises 13%

1:35PM ET 3/26/2020 MT Newswires
Owl Rock Capital (ORCC), with $8.8 billion investments in 98 companies, said on Thursday it is positioned to weather the COVID-19 pandemic, adding that it could also invest amid the challenging environment thanks to its substantial liquidity. The stock rose 13% amid a broad market recovery.

"ORCC has a diversified set of financing that provides us with substantial liquidity," CEO Craig Packer said in a letter to shareholders, pointing to $1.8 billion of cash and undrawn debt capacity against $0.5 billion in undrawn commitments to its portfolio companies.

"This strong liquidity position will also allow us to continue to support our existing borrowers and selectively deploy capital in additional investment opportunities," Packer said. "We believe ORCC is well-positioned to weather the current market volatility and economic uncertainty."

Price: 11.41, Change: +1.30, Percent Change: +12.86