Blue Owl Capital Corp II Amends Credit Facility

Blue Owl Capital Corporation II filed an 8-K describing an Omnibus Amendment to its revolving credit agreement and related guarantee and security agreement dated January 12, 2024. The amendment reduces the revolving credit facility’s maximum commitment from $225.0 million to $75.0 million and shortens the revolver availability period from January 2028 to October 2027.

The amendment also increases the unused fee from 0.375% to 0.50%–0.65% and raises applicable margins for ABR, Term Benchmark, and RFR loans. It expands restricted payment flexibility subject to conditions and reduces the minimum shareholders’ equity test. The filing also references six separately negotiated loan sale agreements for disposition of a portion of the company’s portfolio investments.