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 September 20, 2023 (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. 1 to Credit Agreement and Margining Agreement (the “Amendment” and the facility as amended the “Secured Credit Facility”), which amended (a) that certain Third Amended and Restated Margining Agreement, dated as of April 29, 2019, by and between ORCC II Financing and OR Lending II LLC, as borrowers and Goldman Sachs Bank USA, as administrative agent and (b) that certain Third Amended and Restated Credit Agreement, dated as of May 6, 2022, by and among ORCC II Financing and OR Lending II LLC, 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. Among other changes, the Amendment (i) provided for the refinancing in full of all Existing Loans, (ii) amended the definition of Collateral Portfolio Requirements, Specified Change and Material Amendment, (iii) reduced the Commitments under the Secured Credit Facility from $500,000,000 to $250,000,000, (iv) extended the Non-Call Period through September 20, 2024, the Reinvestment Period through November 30, 2025 and the Scheduled Maturity Date through November 30, 2026 and (v) increased the Spread from 2.40% to 2.70%. The Amendment also amended the definitions of Cash Payment Funding Deadline and Value Adjustment Event under the Margining Agreement.
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
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: September 26, 2023 | By: | /s/ Bryan Cole | ||||
| Bryan Cole | ||||||
| Chief Operating Officer and Chief Financial Officer | ||||||