"Following this transaction, we have approximately $2 billion of cash and undrawn debt capacity and remain well positioned to continue executing our investment strategy of lending to upper-middle-market, sponsor-backed companies in recession resistant industries," said CEO Craig Packer.
The CLO issued $260 million of floating and fixed-rate notes, and has a reinvestment period of four years and a final maturity of April 20, 2032. Owl Rock said it will use the net proceeds from the secured notes to repay revolving loans borrowed by the company and its subsidiaries under existing credit facilities.
Price: 11.18, Change: +1.07, Percent Change: +10.58
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