UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 - Entry into a Material Definitive Agreement.
On July 26, 2024 (the “Amendment Date”), ORCC II Financing LLC (“ORCC II Financing”) and OR Lending II LLC (“OR Lending II”), each a subsidiary of Blue Owl Capital Corporation II (the “Company”) entered into Amendment No. 3 (the “Amendment” and the facility as amended the “Secured Credit Facility”), which amended (a) that certain Third Amended and Restated Credit Agreement, dated as of May 6, 2022, by and among ORCC II Financing and OR Lending II, as borrowers, the lenders from time to time parties thereto, Goldman Sachs Bank USA as sole lead arranger, syndication agent and administrative agent, State Street Bank and Trust Company as collateral administrator and collateral agent and Cortland Capital Market Services LLC as collateral custodian and (b) those certain Account Control Agreements, each dated December 4, 2017 among ORCC II Financing or OR Lending II, as applicable, as borrower, and State Street Bank and Trust Company. Among other changes, the Amendment (i) provided for Future Funding Collateral Obligations to be eligible as Collateral Obligations and for a Future Funding Reserve Account, (ii) amended the definitions of Class A Make-Whole Amount, Collateral Obligation Criteria, Collateral Portfolio Requirements, Excess Concentration Amount, Fund and Target Percentage, (iii) increased the Commitments, subject to prepayment fees through June 30, 2025, under the Secured Credit Facility from $250,000,000 to $375,000,000, (iv) extended the Reinvestment Period through November 30, 2027 and the Scheduled Maturity Date through November 30, 2028 and (v) reduced the Spread from 2.70% to 2.375%. Under the Secured Credit Facility, the Borrowers will pay certain unused fees subject to minimum utilization during he Reinvestment Period.
Item 2.03 - Creation of a Direct Financial Obligation.
The information set forth under Item 1.01 above is incorporated by reference into this Item 2.03.
Item 9.01 - Financial Statements and Exhibits.
(d) Exhibits
| Exhibit Number |
Description | |
| 10.1 | Amendment No. 3 to Third Amended and Restated Credit Agreement, dated as of July 26, 2024, by and among ORCC II Financing LLC and OR Lending II LLC, as Borrowers, the Lenders from time to time parties thereto, Goldman Sachs Bank USA, as Administrative Agent, State Street Bank and Trust Company as Collateral Administrator and Collateral Agent, and Cortland Capital Market Services LLC as Collateral Custodian. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Blue Owl Capital Corporation II | ||||
| Date: July 31, 2024 |
By: |
/s/ Jonathan Lamm | ||
| Jonathan Lamm | ||||
| Chief Financial Officer | ||||