Business Context and Reporting Period
This Form 8-K was filed by Owl Rock Capital Corporation (referred to in the metadata as Blue Owl Capital Corp) on January 5, 2017, reporting an event that occurred on January 4, 2017. The filing details a material amendment to the company's existing subscription credit facility.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, or general liquidity metrics. The specific financial data disclosed relates to the company's debt capacity:
- Previous Facility Commitment: $500 million
- New Facility Commitment: $575 million
- Maximum Potential Capacity: $750 million (via accordion feature)
- Lender: Capital One, N.A.
Material Changes
On January 4, 2017, the company entered into an agreement with Capital One, N.A. to increase the aggregate commitments under its subscription credit facility (dated August 1, 2016) by $75 million. This increase was executed through the facility's existing accordion feature. No other terms of the facility were amended.
Guidance, Outlook, and Risks
The filing does not contain management commentary, forward-looking guidance, or specific risk factors beyond the standard legal disclaimer that the summary is qualified by the underlying agreement. The document notes that the full agreement will be filed as an exhibit to the Annual Report on Form 10-K for the year ending December 31, 2016.
Investor Verification Checklist
- Verify the full terms of the amended credit facility in the upcoming Form 10-K exhibit.
- Confirm the specific conditions required to utilize the remaining accordion capacity up to $750 million.
- Review the company's current utilization rate of the $575 million facility to assess immediate liquidity needs.