Blue Owl Technology Finance Corp. Files 8-K
Ticker: OTF · Form: 8-K · Filed: Jan 21, 2025 · CIK: 1747777
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation
TL;DR
BOTFC entered a material agreement & took on financial obligation on Jan 21, 2025.
AI Summary
On January 21, 2025, Blue Owl Technology Finance Corp. filed an 8-K report. The filing indicates the company entered into a material definitive agreement and created a direct financial obligation. Specific details regarding the agreement and obligation were not provided in the excerpt.
Why It Matters
This filing signals a significant financial event for Blue Owl Technology Finance Corp., potentially involving new debt or a material contract that could impact its financial standing.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, which could introduce new risks or opportunities for the company.
Key Players & Entities
- Blue Owl Technology Finance Corp. (company) — Registrant
- January 21, 2025 (date) — Date of earliest event reported
- 399 Park Avenue (location) — Principal Executive Offices
- New York (location) — City of Principal Executive Offices
- NY (location) — State of Principal Executive Offices
- 10022 (location) — Zip Code of Principal Executive Offices
- Maryland (location) — State of Incorporation
FAQ
What type of material definitive agreement did Blue Owl Technology Finance Corp. enter into?
The filing does not specify the nature of the material definitive agreement.
What is the nature of the direct financial obligation created by Blue Owl Technology Finance Corp.?
The filing does not provide details about the direct financial obligation.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on January 21, 2025.
What is the principal executive office address for Blue Owl Technology Finance Corp.?
The principal executive office is located at 399 Park Avenue, New York, NY 10022.
Under which state is Blue Owl Technology Finance Corp. incorporated?
Blue Owl Technology Finance Corp. is incorporated in Maryland.
Filing Stats: 1,949 words · 8 min read · ~6 pages · Grade level 12.3 · Accepted 2025-01-21 16:43:35
Key Financial Figures
- $650.0 million — ed its previously announced offering of $650.0 million aggregate principal amount of its 6.100
- $638.1 m — he sale of the Notes were approximately $638.1 million, after deducting the fees paid to
- $1.5 m — ated offering expenses of approximately $1.5 million, each payable by the Company. The
- $351.5 million — of September 30, 2024, the Company had $351.5 million outstanding under the Revolving Credit
- $300.0 million — under the Revolving Credit Facility and $300.0 million outstanding under SPV Asset Facility II
- $210.0 million — ompany's 6.75% notes due 2025, of which $210.0 million was outstanding as of September 30, 202
- $375.0 million — 0, 2024, 3.75% notes due 2026, of which $375.0 million was outstanding as of September 30, 202
- $900.0 million — edit facilities, of which approximately $900.0 million was outstanding as of September 30, 202
- $204.0 million — ion transaction, of which approximately $204.0 million was outstanding as of September 30, 202
Filing Documents
- otic-20250121.htm (8-K) — 41KB
- exhibit42-otfclosing8xk.htm (EX-4.2) — 345KB
- exhibit45-otfclosing8xk.htm (EX-4.5) — 138KB
- 0001628280-25-002040.txt ( ) — 724KB
- otic-20250121.xsd (EX-101.SCH) — 2KB
- otic-20250121_lab.xml (EX-101.LAB) — 19KB
- otic-20250121_pre.xml (EX-101.PRE) — 11KB
- otic-20250121_htm.xml (XML) — 2KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On January 21, 2025, Blue Owl Technology Finance Corp. (the "Company") completed its previously announced offering of $650.0 million aggregate principal amount of its 6.100% notes due 2028 (the "Notes"). The offering was consummated pursuant to the terms of a purchase agreement (the "Purchase Agreement") dated January 13, 2025 among the Company and Blue Owl Technology Credit Advisors LLC (the "Adviser"), on the one hand, and Truist Securities, Inc., ING Financial Markets LLC, Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc. and SG Americas Securities, LLC, as representatives of the several initial purchasers listed on Schedule 1 thereto (the "Initial Purchasers"), on the other hand. The Purchase Agreement provided for the Notes to be issued to the Initial Purchasers in a private placement in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and for initial resale by the Initial Purchasers to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and non-U.S. persons outside the United States in compliance with Regulation S under the Securities Act. The Company relied upon these exemptions from registration based in part on representations made by the Initial Purchasers. The Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration. The net proceeds from the sale of the Notes were approximately $638.1 million, after deducting the fees paid to the Initial Purchasers and estimated offering expenses of approximately $1.5 million, each payable by the Company. The Company intends to use the net proceeds to pay down a portion of its outstanding indebtedness under an amended and restated senior secured revolving agreement (the "Revolving Credit Facility"), which matures on December 20, 2029,
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits 4.1 Indenture, dated as of June 12, 2020, by and between the Company and Computershare Trust Company, N.A., as successor to Wells Fargo Bank, National Association, as trustee (incorporated by reference to Exhibit 4.1 to the Company's current report on Form 8-K, filed June 12, 2020). 4.2 Fifth Supplemental Indenture, dated as of January 21, 2025, relating to the 6.100% notes due 2028, by and between the Company and Computershare Trust Company, N.A., as successor to Wells Fargo Bank, National Association, as trustee. 4.3 Form of 6.100% notes due 2028 sold in reliance on Rule 144A of the Securities Act (Incorporated by Reference to Exhibit 4.2 hereto). 4.4 Form of 6.100% notes due 2028 sold in reliance on Regulation S of the Securities Act (Incorporated by Reference to Exhibit 4.2 hereto). 4.5 Registration Rights Agreement, dated as of January 21, 2025, by and among the Company and Truist Securities, Inc., ING Financial Markets LLC, Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc. and SG Americas Securities, LLC, as representatives of the Initial Purchasers. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BLUE OWL TECHNOLOGY FINANCE CORP. Dated: January 21, 2025 By: /s/ Jonathan Lamm Name: Jonathan Lamm Title: Chief Operating Officer and Chief Financial Officer