UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
|
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarter ended June 30, 2020
OR
|
☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Commission File Number 814-01190
OWL ROCK CAPITAL CORPORATION
(Exact name of Registrant as specified in its Charter)
|
Maryland |
|
47-5402460 |
|
(State or other jurisdiction of incorporation or organization) |
|
(I.R.S. Employer Identification No.) |
|
|
|
|
|
399 Park Avenue, 38th Floor, New York, New York |
|
10022 |
|
(Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including area code: (212) 419-3000
Securities registered pursuant to Section 12(b) of the Act:
|
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
|
Common Stock, $0.01 par value per share |
ORCC |
The New York Stock Exchange |
Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES ☒ NO ☐
Indicate by check mark whether the Registrant has submitted every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). YES ☐ NO ☐
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definition of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
|
Large accelerated filer |
☐ |
|
Accelerated filer |
☐ |
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|
|
|
|
|
|
Non-accelerated filer |
☒ |
|
Small reporting company |
☐ |
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|
|
|
|
|
Emerging growth company |
☐ |
|
|
|
Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES ☐ NO ☒
As of August 4, 2020 the registrant had 384,686,586 shares of common stock, $0.01 par value per share, outstanding.
i
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Page |
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PART I |
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FINANCIAL INFORMATION |
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Item 1. |
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2 |
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2 |
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3 |
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Consolidated Schedules of Investments as of June 30, 2020 (Unaudited) and December 31, 2019 |
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4 |
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28 |
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29 |
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31 |
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Item 2. |
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Management’s Discussion and Analysis of Financial Condition and Results of Operations |
|
71 |
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Item 3. |
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115 |
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Item 4. |
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116 |
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PART II |
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OTHER INFORMATION |
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Item 1. |
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117 |
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Item 1A. |
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|
117 |
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Item 2. |
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125 |
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Item 3. |
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|
125 |
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Item 4. |
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125 |
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Item 5. |
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125 |
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Item 6. |
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126 |
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127 |
ii
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This report contains forward-looking statements that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about Owl Rock Capital Corporation (the “Company,” “we” or “our”), our current and prospective portfolio investments, our industry, our beliefs and opinions, and our assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including without limitation:
|
|
• |
an economic downturn could impair our portfolio companies’ ability to continue to operate, which could lead to the loss of some or all of our investments in such portfolio companies; |
|
|
• |
an economic downturn could disproportionately impact the companies that we intend to target for investment, potentially causing us to experience a decrease in investment opportunities and diminished demand for capital from these companies; |
|
|
• |
an economic downturn could also impact availability and pricing of our financing; |
|
|
• |
a contraction of available credit and/or an inability to access the equity markets could impair our lending and investment activities; |
|
|
• |
the impact of the novel strain of coronavirus known as “COVID-19” and related changes in base interest rates and significant market volatility on our business, our portfolio companies, our industry and the global economy; |
|
|
• |
interest rate volatility, including the decommissioning of LIBOR, could adversely affect our results, particularly if we elect to use leverage as part of our investment strategy; |
|
|
• |
currency fluctuations could adversely affect the results of our investments in foreign companies, particularly to the extent that we receive payments denominated in foreign currency rather than U.S. dollars; |
|
|
• |
our future operating results; |
|
|
• |
our business prospects and the prospects of our portfolio companies including our and their ability to achieve our respective objectives as a result of the current COVID-19 pandemic; |
|
|
• |
our contractual arrangements and relationships with third parties; |
|
|
• |
the ability of our portfolio companies to achieve their objectives; |
|
|
• |
competition with other entities and our affiliates for investment opportunities; |
|
|
• |
the speculative and illiquid nature of our investments; |
|
|
• |
the use of borrowed money to finance a portion of our investments as well as any estimates regarding potential use of leverage; |
|
|
• |
the adequacy of our financing sources and working capital; |
|
|
• |
the loss of key personnel; |
|
|
• |
the timing of cash flows, if any, from the operations of our portfolio companies; |
|
|
• |
the ability of Owl Rock Capital Advisors LLC (“the Adviser” or “our Adviser”) to locate suitable investments for us and to monitor and administer our investments; |
|
|
• |
the ability of the Adviser to attract and retain highly talented professionals; |
|
|
• |
our ability to qualify for and maintain our tax treatment as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), and as a business development company (“BDC”); |
|
|
• |
the effect of legal, tax and regulatory changes; and |
|
|
• |
other risks, uncertainties and other factors previously identified in the reports and other documents we have filed with the Securities and Exchange Commission (“SEC”). |
Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate, and as a result, the forward-looking statements based on those assumptions also could be inaccurate. In light of these and other uncertainties, the inclusion of a projection or forward-looking statement in this report should not be regarded as a representation by us that our plans and objectives will be achieved. These forward-looking statements apply only as of the date of this report. Moreover, we assume no duty and do not undertake to update the forward-looking statements. Because we are an investment company, the forward-looking statements and projections contained in this report are excluded from the safe harbor protection provided by Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”).
1
PART I. CONSOLIDATED FINANCIAL INFORMATION
Item 1. Consolidated Financial Statements
Consolidated Statements of Assets and Liabilities
(Amounts in thousands, except share and per share amounts)
|
|
|
June 30, 2020 (Unaudited) |
|
|
December 31, 2019 |
|
||
|
Assets |
|
|
|
|
|
|
|
|
|
Investments at fair value |
|
|
|
|
|
|
|
|
|
Non-controlled, non-affiliated investments (amortized cost of $9,358,260 and $8,738,520, respectively) |
|
$ |
9,052,040 |
|
|
$ |
8,709,700 |
|
|
Controlled, affiliated investments (amortized cost of $167,652 and $90,336, respectively) |
|
|
158,690 |
|
|
|
89,525 |
|
|
Total investments at fair value (amortized cost of $9,525,912 and $8,828,856, respectively) |
|
|
9,210,730 |
|
|
|
8,799,225 |
|
|
Cash (restricted cash of $7,964 and $7,587, respectively) |
|
|
187,985 |
|
|
|
317,159 |
|
|
Interest receivable |
|
|
52,078 |
|
|
|
57,632 |
|
|
Receivable for investments sold |
|
|
— |
|
|
|
9,250 |
|
|
Receivable from a controlled affiliate |
|
|
2,260 |
|
|
|
2,475 |
|
|
Prepaid expenses and other assets |
|
|
44,073 |
|
|
|
17,878 |
|
|
Total Assets |
|
$ |
9,497,126 |
|
|
$ |
9,203,619 |
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
Debt (net of unamortized debt issuance costs of $55,111 and $44,302, respectively) |
|
$ |
3,494,872 |
|
|
$ |
3,038,232 |
|
|
Distribution payable |
|
|
150,028 |
|
|
|
137,245 |
|
|
Management fee payable |
|
|
17,301 |
|
|
|
16,256 |
|
|
Payables to affiliates |
|
|
3,314 |
|
|
|
5,775 |
|
|
Payable for investments purchased |
|
|
212,989 |
|
|
|
— |
|
|
Accrued expenses and other liabilities |
|
|
32,859 |
|
|
|
28,828 |
|
|
Total Liabilities |
|
|
3,911,363 |
|
|
|
3,226,336 |
|
|
Commitments and contingencies (Note 7) |
|
|
|
|
|
|
|
|
|
Net Assets |
|
|
|
|
|
|
|
|
|
Common shares $0.01 par value, 500,000,000 shares authorized; 384,686,586 and 392,129,619 shares issued and outstanding, respectively |
|
|
3,847 |
|
|
|
3,921 |
|
|
Additional paid-in-capital |
|
|
5,875,597 |
|
|
|
5,955,610 |
|
|
Total distributable earnings (losses) |
|
|
(293,681 |
) |
|
|
17,752 |
|
|
Total Net Assets |
|
|
5,585,763 |
|
|
|
5,977,283 |
|
|
Total Liabilities and Net Assets |
|
$ |
9,497,126 |
|
|
$ |
9,203,619 |
|
|
Net Asset Value Per Share |
|
$ |
14.52 |
|
|
$ |
15.24 |
|
The accompanying notes are an integral part of these consolidated financial statements.
2
Consolidated Statements of Operations
(Amounts in thousands, except share and per share amounts)
(Unaudited)
|
|
|
For the Three Months Ended June 30, |
|
|
For the Six Months Ended June 30, |
|
||||||||||
|
|
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
||||
|
Investment Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment income from non-controlled, non-affiliated investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
$ |
183,246 |
|
|
$ |
171,364 |
|
|
$ |
381,639 |
|
|
$ |
317,803 |
|
|
Dividend Income |
|
|
920 |
|
|
|
— |
|
|
|
920 |
|
|
|
— |
|
|
Other income |
|
|
3,815 |
|
|
|
2,187 |
|
|
|
7,966 |
|
|
|
4,526 |
|
|
Total investment income from non-controlled, non-affiliated investments |
|
|
187,981 |
|
|
|
173,551 |
|
|
|
390,525 |
|
|
|
322,329 |
|
|
Investment income from controlled, affiliated investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividend income |
|
|
2,261 |
|
|
|
2,584 |
|
|
|
4,449 |
|
|
|
5,281 |
|
|
Total investment income from controlled, affiliated investments |
|
|
2,261 |
|
|
|
2,584 |
|
|
|
4,449 |
|
|
|
5,281 |
|
|
Total Investment Income |
|
|
190,242 |
|
|
|
176,135 |
|
|
|
394,974 |
|
|
|
327,610 |
|
|
Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
|
39,185 |
|
|
|
36,858 |
|
|
|
73,142 |
|
|
|
71,587 |
|
|
Management fee |
|
|
34,602 |
|
|
|
15,455 |
|
|
|
68,392 |
|
|
|
30,641 |
|
|
Performance based incentive fees |
|
|
22,603 |
|
|
|
— |
|
|
|
48,198 |
|
|
|
— |
|
|
Professional fees |
|
|
3,300 |
|
|
|
2,342 |
|
|
|
6,452 |
|
|
|
4,475 |
|
|
Directors' fees |
|
|
221 |
|
|
|
133 |
|
|
|
454 |
|
|
|
276 |
|
|
Other general and administrative |
|
|
1,741 |
|
|
|
1,946 |
|
|
|
3,905 |
|
|
|
3,551 |
|
|
Total Operating Expenses |
|
|
101,652 |
|
|
|
56,734 |
|
|
|
200,543 |
|
|
|
110,530 |
|
|
Management and incentive fees waived (Note 3) |
|
|
(39,904 |
) |
|
|
— |
|
|
|
(82,394 |
) |
|
|
— |
|
|
Net Operating Expenses |
|
|
61,748 |
|
|
|
56,734 |
|
|
|
118,149 |
|
|
|
110,530 |
|
|
Net Investment Income (Loss) Before Taxes |
|
|
128,494 |
|
|
|
119,401 |
|
|
|
276,825 |
|
|
|
217,080 |
|
|
Excise tax expense (benefit) |
|
|
(668 |
) |
|
|
(221 |
) |
|
|
1,407 |
|
|
|
1,452 |
|
|
Net Investment Income (Loss) After Taxes |
|
$ |
129,162 |
|
|
$ |
119,622 |
|
|
$ |
275,418 |
|
|
$ |
215,628 |
|
|
Net Realized and Change in Unrealized Gain (Loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in unrealized gain (loss): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-controlled, non-affiliated investments |
|
$ |
167,515 |
|
|
$ |
4,042 |
|
|
$ |
(276,620 |
) |
|
$ |
20,470 |
|
|
Controlled affiliated investments |
|
|
6,748 |
|
|
|
1,016 |
|
|
|
(8,151 |
) |
|
|
3,062 |
|
|
Translation of assets and liabilities in foreign currencies |
|
|
205 |
|
|
|
— |
|
|
|
124 |
|
|
|
(22 |
) |
|
Total Net Change in Unrealized Gain (Loss) |
|
|
174,468 |
|
|
|
5,058 |
|
|
|
(284,647 |
) |
|
|
23,510 |
|
|
Net realized gain (loss): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-controlled, non-affiliated investments |
|
|
— |
|
|
|
(179 |
) |
|
|
348 |
|
|
|
(183 |
) |
|
Foreign currency transactions |
|
|
(11 |
) |
|
|
169 |
|
|
|
(90 |
) |
|
|
203 |
|
|
Total Net Realized Gain (Loss) |
|
|
(11 |
) |
|
|
(10 |
) |
|
|
258 |
|
|
|
20 |
|
|
Total Net Realized and Change in Unrealized Gain (Loss) |
|
|
174,457 |
|
|
|
5,048 |
|
|
|
(284,389 |
) |
|
|
23,530 |
|
|
Net Increase (Decrease) in Net Assets Resulting from Operations |
|
$ |
303,619 |
|
|
$ |
124,670 |
|
|
$ |
(8,971 |
) |
|
$ |
239,158 |
|
|
Earnings Per Share - Basic and Diluted |
|
$ |
0.79 |
|
|
$ |
0.44 |
|
|
$ |
(0.02 |
) |
|
$ |
0.92 |
|
|
Weighted Average Shares Outstanding - Basic and Diluted |
|
|
385,469,952 |
|
|
|
284,750,731 |
|
|
|
389,455,832 |
|
|
|
260,453,529 |
|
The accompanying notes are an integral part of these consolidated financial statements.
3
Owl Rock Capital Corporation
Consolidated Schedules of Investments
As of June 30, 2020
(Amounts in thousands, except share amounts)
(Unaudited)
4
Owl Rock Capital Corporation
Consolidated Schedules of Investments
As of June 30, 2020
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
Investment |
|
Interest |
|
|
Maturity Date |
|
Par / Units |
|
|
Amortized Cost(3)(27) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
|
||||||
|
|
First lien senior secured loan |
|
C + 6.00% (incl. 1.00% PIK) |
|
|
11/28/2024 |
|
|
26,016 |
|
|
|
26,584 |
|
|
|
24,585 |
|
|
|
0.4 |
|
% |
||
|
Reef Global, Inc. (fka Cheese Acquisition, LLC)(4)(7)(18)(25) |
|
First lien senior secured revolving loan |
|
L + 5.75% |
|
|
11/28/2023 |
|
|
10,987 |
|
|
|
10,849 |
|
|
|
10,087 |
|
|
|
0.2 |
|
% |
|
|
Velocity Commercial Capital, LLC(4)(8)(25) |
|
First lien senior secured loan |
|
L + 7.50% |
|
|
8/29/2024 |
|
|
63,980 |
|
|
|
63,292 |
|
|
|
62,221 |
|
|
|
1.1 |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
552,668 |
|
|
|
547,999 |
|
|
|
536,178 |
|
|
|
9.5 |
|
% |
|
Business services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Access CIG, LLC(4)(5)(25) |
|
Second lien senior secured loan |
|
L + 7.75% |
|
|
2/27/2026 |
|
|
58,760 |
|
|
|
58,221 |
|
|
|
56,703 |
|
|
|
1.0 |
|
% |
|
|
CIBT Global, Inc.(4)(7)(25) |
|
First lien senior secured loan |
|
L + 3.75% |
|
|
6/3/2024 |
|
|
848 |
|
|
|
636 |
|
|
|
636 |
|
|
|
— |
|
% |
|
|
CIBT Global, Inc.(4)(7)(25)(30) |
|
Second lien senior secured loan |
|
L + 7.75% (incl. 6.75% PIK) |
|
|
6/2/2025 |
|
|
59,500 |
|
|
|
58,393 |
|
|
|
42,840 |
|
|
|
0.8 |
|
% |
|
|
ConnectWise, LLC(4)(7)(25) |
|
First lien senior secured loan |
|
L + 6.00% |
|
|
2/28/2025 |
|
|
179,560 |
|
|
|
177,705 |
|
|
|
176,866 |
|
|
|
3.2 |
|
% |
|
|
ConnectWise, LLC(4)(18)(19)(25) |
|
First lien senior secured revolving loan |
|
L + 6.00% |
|
|
2/28/2025 |
|
|
— |
|
|
|
(198 |
) |
|
|
(300 |
) |
|
|
— |
|
% |
|
|
Entertainment Benefits Group, LLC(4)(7)(25) |
|
First lien senior secured loan |
|
L + 8.25% (incl. 2.50% PIK) |
|
|
9/30/2025 |
|
|
80,190 |
|
|
|
79,113 |
|
|
|
73,775 |
|
|
|
1.3 |
|
% |
|
|
Entertainment Benefits Group, LLC(4)(7)(18)(25) |
|
First lien senior secured revolving loan |
|
L + 8.25% (incl. 2.50% PIK) |
|
|
9/30/2024 |
|
|
10,096 |
|
|
|
9,943 |
|
|
|
9,136 |
|
|
|
0.2 |
|
% |
|
|
Vestcom Parent Holdings, Inc.(4)(8) |
|
Second lien senior secured loan |
|
L + 8.00% |
|
|
12/19/2024 |
|
|
78,987 |
|
|
|
78,252 |
|
|
|
77,013 |
|
|
|
1.4 |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
467,941 |
|
|
|
462,065 |
|
|
|
436,669 |
|
|
|
7.9 |
|
% |
|
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Douglas Products and Packaging Company LLC(4)(7)(25) |
|
First lien senior secured loan |
|
L + 5.75% |
|
|
10/19/2022 |
|
|
98,441 |
|
|
|
97,917 |
|
|
|
96,225 |
|
|
|
1.7 |
|
% |
|
|
Douglas Products and Packaging Company LLC(4)(11)(25) |
|
First lien senior secured revolving loan |
|
P + 4.75% |
|
|
10/19/2022 |
|
|
9,083 |
|
|
|
9,047 |
|
|
|
8,879 |
|
|
|
0.2 |
|
% |
|
|
Innovative Water Care Global Corporation(4)(7)(25) |
|
First lien senior secured loan |
|
L + 5.00% |
|
|
2/27/2026 |
|
|
148,125 |
|
|
|
139,280 |
|
|
|
118,500 |
|
|
|
2.1 |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
255,649 |
|
|
|
246,244 |
|
|
|
223,604 |
|
|
|
4.0 |
|
% |
|
Consumer products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CD&R Smokey Buyer (fka Radio Systems)(23)(25)(28) |
|
First lien senior secured note |
|
6.75% |
|
|
7/15/2025 |
|
|
103,250 |
|
|
|
103,257 |
|
|
|
107,122 |
|
|
|
1.9 |
|
% |
|
|
Feradyne Outdoors, LLC(4)(7)(25) |
|
First lien senior secured loan |
|
L + 8.25% (incl. 2.00% PIK) |
|
|
5/25/2023 |
|
|
112,609 |
|
|
|
111,874 |
|
|
|
97,970 |
|
|
|
1.8 |
|
% |
|
5
Owl Rock Capital Corporation
Consolidated Schedules of Investments
As of June 30, 2020
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
Investment |
|
Interest |
|
|
Maturity Date |
|
Par / Units |
|
|
Amortized Cost(3)(27) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
|
||||||
|
|
First lien senior secured loan |
|
L + 5.50% |
|
|
3/26/2026 |
|
|
159,299 |
|
|
|
156,566 |
|
|
|
155,316 |
|
|
|
2.8 |
|
% |
||
|
WU Holdco, Inc. (dba Weiman Products, LLC)(4)(7)(18)(25) |
|
First lien senior secured revolving loan |
|
L + 5.50% |
|
|
3/26/2025 |
|
|
13,829 |
|
|
|
13,609 |
|
|
|
13,481 |
|
|
|
0.2 |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
388,987 |
|
|
|
385,306 |
|
|
|
373,889 |
|
|
|
6.7 |
|
% |
|
Containers and packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pregis Topco LLC(4)(5)(23)(25) |
|
First lien senior secured loan |
|
L + 4.00% |
|
|
8/1/2026 |
|
|
870 |
|
|
|
822 |
|
|
|
837 |
|
|
|
- |
|
% |
|
|
Pregis Topco LLC(4)(5)(25) |
|
Second lien senior secured loan |
|
L + 7.75% |
|
|
7/30/2027 |
|
|
186,333 |
|
|
|
182,908 |
|
|
|
178,414 |
|
|
|
3.2 |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
187,203 |
|
|
|
183,730 |
|
|
|
179,251 |
|
|
|
3.2 |
|
% |
|
Distribution |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ABB/Con-cise Optical Group LLC(4)(8) |
|
First lien senior secured loan |
|
L + 5.00% |
|
|
6/15/2023 |
|
|
76,015 |
|
|
|
75,340 |
|
|
|
68,414 |
|
|
|
1.2 |
|
% |
|
|
ABB/Con-cise Optical Group LLC(4)(8) |
|
Second lien senior secured loan |
|
L + 9.00% |
|
|
6/17/2024 |
|
|
25,000 |
|
|
|
24,551 |
|
|
|
22,000 |
|
|
|
0.4 |
|
% |
|
|
Aramsco, Inc.(4)(5)(25) |
|
First lien senior secured loan |
|
L + 5.25% |
|
|
8/28/2024 |
|
|
56,766 |
|
|
|
55,732 |
|
|
|
54,779 |
|
|
|
1.0 |
|
% |
|
|
Aramsco, Inc.(4)(5)(18)(25) |
|
First lien senior secured revolving loan |
|
L + 5.25% |
|
|
8/28/2024 |
|
|
||||||||||||||||