Business Context and Reporting Period
This Form 8-K was filed by Owl Rock Capital Corporation (trading symbol: ORCC) on December 15, 2021, reporting events occurring on December 13, 2021. The filing concerns a material amendment to the company's secured credit facility entered into by its subsidiary, ORCC Financing III LLC.
Key Financial Metrics
The filing does not provide specific numerical values for revenue, profit, cash flow, margins, or total debt levels. The document focuses exclusively on the structural terms of a credit facility amendment rather than periodic financial performance results.
Material Changes
On December 13, 2021, the company executed Amendment No. 2 to its Loan Financing and Servicing Agreement. Key changes include:
- Revised Definitions: The definition of "Excess Concentration Amount" was revised.
- Extended Revolving Period: The Revolving Period was extended through June 14, 2022.
- Extended Termination Date: The Facility Termination Date was extended through June 14, 2024.
Outlook, Risks, and Management Commentary
The filing notes that borrowings by ORCC Financing III are considered the Company's borrowings for compliance with asset coverage requirements under the Investment Company Act of 1940. No forward-looking guidance, management commentary on future performance, or specific risk factors beyond the standard regulatory context were included in this specific report.
Investor Verification Checklist
- Verify the full text of Amendment No. 2 (Exhibit 10.1) to understand the specific impact of the revised "Excess Concentration Amount" definition on leverage capacity.
- Confirm the current outstanding balance of the Secured Credit Facility to assess the significance of the extended maturity dates.
- Review the company's most recent 10-Q or 10-K for the actual financial metrics (revenue, profit, cash flow) not contained in this 8-K.