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 February 18, 2025 (the “First Amendment Closing Date”), Tech Income Funding III LLC (“Tech Income Funding III”) executed the First Amendment to Credit Agreement (the “Amendment”), which amends that certain Credit Agreement, dated as of January 9, 2024, by and among Tech Income Funding III, as borrower, Société Générale, as administrative agent, State Street Bank and Trust Company, as collateral agent, collateral administrator, custodian and successor document custodian, Alter Domus (US) LLC, as the resigning document custodian, and the lenders party thereto. The Amendment (i) reallocates $92,000,000 of the term loan commitment to the revolving loan commitment, increasing the total revolving loan commitment from $275,000,000 to $367,000,000, and decreasing the total term loan commitment from $275,000,000 to $183,000,000, (ii) converts a portion of the outstanding term loans in the amount of $267,000,000 to a Revolving Loan (iii) decreases the interest spread from 3.05% to 2.05%, (iv) includes that Tech Income Funding III will pay certain unused fees subject to minimum utilization during the Reinvestment Period, (v) extends the Reinvestment Period from January 29, 2026 to February 18, 2028 and the Stated Maturity from January 9, 2034 to February 16, 2035, (vi) requires that Tech Income Funding III owe a prepayment penalty to the extent the commitments are terminated or permanently reduced during the first year following the First Amendment Closing Date, and (vii) removes Alter Domus (US) LLC as the document custodian and appoints State Street Bank and Trust Company as the document custodian.
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 | First Amendment to Credit Agreement, dated as of February 18, 2025, among Tech Income Funding III LLC, as Borrower, Société Générale, as Administrative Agent, and the Lenders party thereto. | |
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 Technology Income Corp. | ||||||
Dated: February 20, 2025 | By: | /s/ Jonathan Lamm | ||||
Name: Jonathan Lamm | ||||||
Title: Chief Operating Officer and Chief Financial Officer |