Business Context and Reporting Period
This Form 8-K filing by Owl Rock Capital Corporation (trading as ORCC on the NYSE) reports a material event occurring on April 19, 2021, with the report filed on April 20, 2021. The filing details the execution of an underwriting agreement for a new debt offering.
Key Financial Metrics
The filing discloses the following specific financial metric related to the debt offering:
- Debt Issuance: $500 million aggregate principal amount.
- Instrument: 2.625% Notes due 2027.
- Revenue, Profit, Cash Flow, Margins, and Liquidity: The filing text does not provide a clear value for these operational metrics as this is a current report focused on a specific transaction rather than a periodic financial statement.
Material Changes
The primary material change is the expansion of the Company's capital structure through the issuance of $500 million in senior notes. This transaction was conducted pursuant to an effective shelf registration statement (Form N-2, No. 333-239775) and involved BofA Securities, Inc. as the representative underwriter.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future performance, or a discussion of risks and contingencies beyond the standard incorporation by reference of the Underwriting Agreement. The document serves strictly to disclose the execution of the debt offering.
Investor Verification Checklist
- Verify the final terms and use of proceeds in the Underwriting Agreement filed as Exhibit 1.1.
- Confirm the impact of the new $500 million debt obligation on the Company's total leverage ratios in subsequent periodic reports (10-Q or 10-K).
- Review the final prospectus supplement dated April 19, 2021, for details on the underwriting discounts and commissions.