Business Context and Reporting Period
This Form 8-K is a current report filed by Owl Rock Capital Corporation (trading symbol: ORCC) on August 10, 2021. The filing discloses a specific corporate event regarding the issuance of additional debt securities.
Key Financial Metrics
The filing details a debt issuance event rather than periodic financial performance metrics such as revenue or operating cash flow.
- Debt Issuance: $400 million aggregate principal amount.
- Instrument: 2.875% Notes due 2028.
- Underwriters: BofA Securities, Inc. (as representative).
- Registration: Issued pursuant to an effective shelf registration statement on Form N-2 (No. 333-239775).
The filing text does not provide a clear value for revenue, profit, margins, or existing liquidity positions.
Material Changes
The material change reported is the expansion of the Company's capital structure through the sale of an additional $400 million in notes. This increases the outstanding principal amount of the 2.875% Notes due 2028.
Outlook, Risks, and Management Commentary
Management commentary is limited to the execution of the underwriting agreement. The filing incorporates the full text of the Underwriting Agreement (Exhibit 1.1) by reference for complete terms. No specific forward-looking guidance, risk factors, or contingencies are detailed within the body of this specific 8-K report.
Investor Verification Checklist
- Verify the total outstanding principal of the 2.875% Notes due 2028 post-issuance.
- Review the full Underwriting Agreement (Exhibit 1.1) for covenants, use of proceeds, and underwriting discounts.
- Confirm the impact of this issuance on the Company's leverage ratios and liquidity position.
- Check subsequent filings for the final pricing and settlement details of the offering.