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EX-32.2 - EX-32.2 - Owl Rock Capital Corpowl-ex322_15.htm
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EX-31.1 - EX-31.1 - Owl Rock Capital Corpowl-ex311_18.htm
EX-10.4 - EX-10.4 - Owl Rock Capital Corpowl-ex104_86.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 10-Q

 

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2017

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from _____ to _____

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.)

 

 

245 Park Avenue, 41st Floor

New York, New York

10167

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (212) 419-3000

 

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 electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted 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 and post such files).    Yes      No  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

 

  

Accelerated filer

 

 

 

 

 

Non-accelerated filer

 

  (Do not check if a small reporting company)

  

Small reporting company

 

 

 

 

 

 

 

 

Emerging growth company

 

 

 

 

 

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.    

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 8, 2017, the registrant had 71,525,853 shares of common stock, $0.01 par value per share, outstanding.

 

 

 


 

Table of Contents

 

 

 

Page

PART I.

FINANCIAL INFORMATION

 

Item 1.

Consolidated Financial Statements

3

 

Consolidated Statements of Assets and Liabilities as of June 30, 2017 (Unaudited) and December 31, 2016

3

 

Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2017 and 2016 (Unaudited)

4

 

Consolidated Schedules of Investments as of June 30, 2017 (Unaudited) and December 31, 2016

5

Consolidated Statements of Changes in Net Assets for the Six Months Ended June 30, 2017 and 2016 (Unaudited)

10

 

Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2017 and 2016 (Unaudited)

11

 

Notes to Consolidated Financial Statements (Unaudited)

12

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

30

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

49

Item 4.

Controls and Procedures

49

PART II.

OTHER INFORMATION

 

Item 1.

Legal Proceedings

50

Item 1A.

Risk Factors

50

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

50

Item 3.

Defaults Upon Senior Securities

50

Item 4.

Mine Safety Disclosures

50

Item 5.

Other Information

50

Item 6.

Exhibits

51

Signatures

52

 

 

 

 


i


 

 

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,” “Owl Rock,” “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;

 

interest rate volatility 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;

 

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”) 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 “1934 Act”).

2


 

PART I. FINANCIAL INFORMATION

 

Item 1. Consolidated Financial Statements

 

Owl Rock Capital Corporation

Consolidated Statement of Assets and Liabilities

(Amounts in thousands, except share and per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2017

(Unaudited)

 

 

December 31, 2016

 

Assets

 

 

 

 

 

 

 

 

Investments at fair value

 

 

 

 

 

 

 

 

Non-controlled/non-affiliate company investments

 

$

1,791,538

 

 

$

967,399

 

Controlled affiliate company investments

 

 

(49

)

 

 

 

Total investments at fair value (amortized cost of $1,777,648 and $959,768, respectively)

 

 

1,791,489

 

 

 

967,399

 

Cash and cash equivalents

 

 

90,564

 

 

 

209,353

 

Interest receivable

 

 

7,576

 

 

 

3,349

 

Prepaid expenses and other assets

 

 

953

 

 

 

723

 

Total Assets

 

$

1,890,582

 

 

$

1,180,824

 

Liabilities

 

 

 

 

 

 

 

 

Debt (net of unamortized debt issuance costs of $6,887 and $3,094, respectively)

 

$

796,113

 

 

$

491,906

 

Management fees payable

 

 

6,262

 

 

 

4,565

 

Payables to affiliates

 

 

1,225

 

 

 

1,860

 

Accrued expenses and other liabilities

 

 

3,076

 

 

 

1,968

 

Total Liabilities

 

 

806,676

 

 

 

500,299

 

Commitments and contingencies (Note 7)

 

 

 

 

 

 

 

 

Net Assets

 

 

 

 

 

 

 

 

Common shares, $0.01 par value; 500,000,000 shares authorized; 71,525,853 and 45,833,313 shares issued and outstanding, respectively

 

 

715

 

 

 

458

 

Additional paid-in-capital

 

 

1,050,909

 

 

 

664,554

 

Accumulated undistributed net investment income

 

 

18,441

 

 

 

7,882

 

Net unrealized gains on investments

 

 

13,841

 

 

 

7,631

 

Total Net Assets

 

 

1,083,906

 

 

 

680,525

 

Total Liabilities and Net Assets

 

$

1,890,582

 

 

$

1,180,824

 

Net Asset Value Per Share

 

$

15.15

 

 

$

14.85

 

 

 

The accompanying notes are an integral part of these consolidated financial statements.

 

 

3


 

Owl Rock Capital Corporation

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,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Investment Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment income from non-controlled, non-affiliated investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$

31,793

 

 

$

628

 

 

$

54,944

 

 

$

628

 

Other income

 

 

1,046

 

 

 

1

 

 

 

1,207

 

 

 

1

 

Total investment income from non-controlled, non-affiliated investments

 

 

32,839

 

 

 

629

 

 

 

56,151

 

 

 

629

 

Total Investment Income

 

 

32,839

 

 

 

629

 

 

 

56,151

 

 

 

629

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Initial organization

 

 

 

 

 

 

 

 

 

 

 

1,224

 

Interest expense

 

 

5,229

 

 

 

 

 

 

8,258

 

 

 

 

Management fees

 

 

6,262

 

 

 

1,633

 

 

 

11,273

 

 

 

2,199

 

Professional fees

 

 

1,181

 

 

 

869

 

 

 

2,440

 

 

 

1,173

 

Directors’ fees

 

 

79

 

 

 

84

 

 

 

190

 

 

 

104

 

Other general and administrative

 

 

797

 

 

 

640

 

 

 

1,916

 

 

 

845

 

Total Expenses

 

 

13,548

 

 

 

3,226

 

 

 

24,077

 

 

 

5,545

 

Net Investment Income (Loss) Before Taxes

 

 

19,291

 

 

 

(2,597

)

 

 

32,074

 

 

 

(4,916

)

Excise tax expense

 

 

15

 

 

 

 

 

 

15

 

 

 

 

Net Investment Income (Loss) After Taxes

 

$

19,276

 

 

$

(2,597

)

 

$

32,059

 

 

$

(4,916

)

Unrealized Gains on Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net unrealized gains:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

 

825

 

 

 

518

 

 

 

6,259

 

 

 

518

 

Controlled affiliated investments

 

 

(49

)

 

 

 

 

 

(49

)

 

 

 

Total Net Unrealized Gains

 

 

776

 

 

 

518

 

 

 

6,210

 

 

 

518

 

Net Increase (Decrease) in Net Assets Resulting from Operations

 

$

20,052

 

 

$

(2,079

)

 

$

38,269

 

 

$

(4,398

)

Earnings Per Share – Basic and Diluted

 

$

0.35

 

 

$

(0.25

)

 

$

0.74

 

 

$

(0.70

)

Weighted Average Shares Outstanding – Basic and Diluted

 

 

56,902,859

 

 

 

8,305,159

 

 

 

51,424,041

 

 

 

6,249,502

 

 

 

The accompanying notes are an integral part of these consolidated financial statements.

 

 

4


 

Owl Rock Capital Corporation

Consolidated Schedule of Investments

As of June 30, 2017

(Amounts in thousands, except share amounts)

(Unaudited)

 

 

 

 

 

 

 

Maturity

 

Principal /

 

 

Amortized

 

 

Fair

 

 

Percentage

 

 

 

Company(1)(11)(13)

 

Investment

 

Interest

 

Date

 

Par

 

 

Cost(2)

 

 

Value

 

 

of Net Assets

 

 

Non-controlled/non-affiliate company investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advertising and media

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PAK Acquisition Corporation(3)(5)

 

First lien senior secured loan

 

L + 8.00%

 

6/30/2022

 

$

79,950

 

 

$

78,468

 

 

$

79,950

 

 

 

7.4

 

%

 

Aerospace and defense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vencore, Inc.(3)(5)

 

Second lien senior secured loan

 

L + 8.75%

 

5/23/2020

 

 

50,000

 

 

 

49,227

 

 

 

50,000

 

 

 

4.6

 

%

 

Buildings and real estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DTZ U.S. Borrower, LLC (dba Cushman & Wakefield)(3)(5)

 

Second lien senior secured loan

 

L + 7.75%

 

11/4/2022

 

 

125,000

 

 

 

123,771

 

 

 

123,750

 

 

 

11.4

 

%

 

Business services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Access Information(3)(4)(12)

 

First lien senior secured loan

 

L + 5.00%

 

10/17/2021

 

 

39,796

 

 

 

39,440

 

 

 

39,848

 

 

 

3.7

 

%

 

Access Information(3)(4)

 

Second lien senior secured loan

 

L + 8.75%

 

10/17/2022

 

 

20,000

 

 

 

19,206

 

 

 

19,400

 

 

 

1.8

 

%

 

CIBT Global, Inc.(3)(5)

 

Second lien senior secured loan

 

L + 7.75%

 

6/1/2025

 

 

49,000

 

 

 

47,800

 

 

 

47,775

 

 

 

4.4

 

%

 

Vestcom Parent Holdings, Inc.(3)(4)

 

Second lien senior secured loan

 

L + 8.50%

 

6/19/2024

 

 

65,000

 

 

 

64,074

 

 

 

64,675

 

 

 

6.0

 

%

 

 

 

 

 

 

 

 

 

 

 

173,796

 

 

 

170,520

 

 

 

171,698

 

 

 

15.9

 

%

 

Consumer products

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Feradyne Outdoors, LLC(3)(5)

 

First lien senior secured loan

 

L + 6.25%

 

5/25/2023

 

 

115,500

 

 

 

114,116

 

 

 

114,102

 

 

 

10.5

 

%

 

Distribution

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ABB/Con-cise Optical Group LLC(3)(5)

 

Second lien senior secured loan

 

L + 9.00%

 

6/17/2024

 

 

25,000

 

 

 

24,315

 

 

 

24,750

 

 

 

2.3

 

%

 

Dade Paper & Bag, LLC (dba Imperial)(3)(4)

 

First lien senior secured loan

 

L + 7.50%

 

6/9/2024

 

 

33,500

 

 

 

32,856

 

 

 

32,830

 

 

 

3.0

 

%

 

JM Swank, LLC(3)(5)

 

First lien senior secured loan

 

L + 7.50%

 

7/25/2022

 

 

74,575

 

 

 

73,269

 

 

 

75,694

 

 

 

7.0

 

%

 

Medical Specialties Distributors, LLC(3)(5)

 

First lien senior secured loan

 

L + 5.75%

 

12/6/2022

 

 

88,577

 

 

 

87,755

 

 

 

88,135

 

 

 

8.1

 

%

 

QC Supply, LLC(3)(4)

 

First lien senior secured loan

 

L + 6.00%

 

12/29/2022

 

 

26,368

 

 

 

25,755

 

 

 

25,972

 

 

 

2.4

 

%

 

QC Supply, LLC(3)(8)(9)(10)

 

First lien senior secured delayed draw term loan

 

L + 6.00%

 

12/29/2018

 

 

 

 

 

(190

)

 

 

(41

)

 

 

-

 

%

 

QC Supply, LLC(3)(4)(8)

 

First lien senior secured revolving loan

 

L + 6.00%

 

12/29/2021

 

 

1,988

 

 

 

1,876

 

 

 

1,913

 

 

 

0.2

 

%

 

 

 

 

 

 

 

 

 

 

 

250,008

 

 

 

245,636

 

 

 

249,253

 

 

 

23.0

 

%

 

Energy equipment and services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Keane Group Holdings, LLC(3)(4)(7)

 

First lien senior secured loan

 

L + 7.25%

 

8/18/2022

 

 

99,750

 

 

 

98,077

 

 

 

98,752

 

 

 

9.1

 

%

 

Food and beverage

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Candy Intermediate Holding, Inc.(3)(5)

 

Second lien senior secured loan

 

L + 9.00%

 

12/15/2023

 

 

75,000

 

 

 

74,322

 

 

 

72,375

 

 

 

6.7

 

%

 

Give & Go Prepared Foods Corp.(3)(4)(7)

 

First lien senior secured loan

 

L + 5.50%

 

7/29/2023

 

 

5,970

 

 

 

5,970

 

 

 

5,970

 

 

 

0.6

 

%

 

GG Foods Acquisition Corporation(3)(4)(7)

 

Second lien senior secured loan

 

L + 9.75%

 

1/29/2024

 

 

28,500

 

 

 

27,847

 

 

 

28,785

 

 

 

2.7

 

%

 

Recipe Acquisition Corp.(3)(5)

 

Second lien senior secured loan

 

L + 9.00%

 

12/1/2022

 

 

32,000

 

 

 

31,446

 

 

 

32,000

 

 

 

3.0

 

%

 

Tall Tree Foods, Inc.(3)(4)

 

First lien senior secured loan

 

L + 6.75%

 

8/12/2022

 

 

59,050

 

 

 

58,270

 

 

 

58,460

 

 

 

5.4

 

%

 

 

 

 

 

 

 

 

 

 

 

200,520

 

 

 

197,855

 

 

 

197,590

 

 

 

18.4

 

%

 


5


 

 

 

 

 

 

 

 

 

 

Maturity

 

Principal /

 

 

Amortized

 

 

Fair

 

 

Percentage

 

 

 

Company(1)(11)(13)

 

Investment

 

Interest

 

 

Date

 

Par

 

 

Cost(2)

 

 

Value

 

 

of Net Assets

 

 

 

Healthcare and pharmaceuticals

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Osmotica Pharmaceutical Corp.(3)(4)

 

First lien senior secured loan

 

L + 5.00%

 

 

2/3/2022

 

 

49,051

 

 

 

48,631

 

 

 

49,051

 

 

 

4.5

 

%

 

Healthcare equipment and services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beaver-Visitec International Holdings, Inc.(3)(5)

 

First lien senior secured loan

 

L + 5.00%

 

 

8/19/2023

 

 

46,882

 

 

 

46,311

 

 

 

46,296

 

 

 

4.3

 

%

 

Beaver-Visitec International Holdings, Inc.(3)(5)

 

Second lien senior secured loan

 

L + 9.00%

 

 

8/19/2024

 

 

35,000

 

 

 

34,351

 

 

 

35,000

 

 

 

3.2

 

%

 

Geodigm Corporation (dba National Dentex)(3)(5)(16)

 

First lien senior secured loan

 

L + 6.54%

 

 

12/1/2021

 

 

70,113

 

 

 

69,422

 

 

 

69,411

 

 

 

6.4

 

%

 

Geodigm Corporation (dba National Dentex)(3)(8)(10)(16)

 

First lien senior secured delayed draw term loan

 

L + 6.54%

 

 

7/31/2017

 

 

 

 

 

 

 

 

 

 

 

-

 

%

 

PetVet Care Centers, LLC(3)(5)

 

First lien senior secured loan

 

L + 6.00%

 

 

6/8/2023

 

 

31,360

 

 

 

31,051

 

 

 

31,046

 

 

 

2.9

 

%

 

PetVet Care Centers, LLC(3)(8)(9)(10)

 

First lien senior secured delayed draw term loan

 

L + 6.00%

 

 

6/8/2019

 

 

 

 

 

(147

)

 

 

(147

)

 

 

-

 

%

 

PetVet Care Centers, LLC(3)(4)(8)

 

First lien senior secured revolving loan

 

L + 6.00%

 

 

6/8/2023

 

 

162

 

 

 

133

 

 

 

132

 

 

 

-

 

%

 

 

 

 

 

 

 

 

 

 

 

 

 

183,517

 

 

 

181,121

 

 

 

181,738

 

 

 

16.8

 

%

 

Human resource support services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SABA Software, Inc.(3)(4)

 

First lien senior secured loan

 

L + 5.50%

 

 

5/1/2023

 

 

45,050

 

 

 

44,515

 

 

 

44,486

 

 

 

4.1

 

%

 

SABA Software, Inc.(3)(8)(9)

 

First lien senior secured revolving loan

 

L + 5.50%

 

 

5/1/2023

 

 

 

 

 

(62

)

 

 

(62

)

 

 

-

 

%

 

 

 

 

 

 

 

 

 

 

 

 

 

45,050

 

 

 

44,453

 

 

 

44,424

 

 

 

4.1

 

%

 

Infrastructure and environmental services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FR Arsenal Holdings II Corp.(3)(5)

 

First lien senior secured loan

 

L + 7.25%

 

 

9/8/2022

 

 

74,487

 

 

 

73,140

 

 

 

74,860

 

 

 

6.9

 

%

 

Insurance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CD&R TZ Purchaser, Inc.(3)(5)

 

First lien senior secured loan

 

L + 6.00%

 

 

7/21/2023

 

 

34,738

 

 

 

32,857

 

 

 

34,216

 

 

 

3.1

 

%

 

Internet software and services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dominion Web Solutions, LLC(3)(4)

 

First lien senior secured loan

 

L + 6.25%

 

 

6/15/2024

 

 

94,231

 

 

 

92,824

 

 

 

92,817

 

 

 

8.5

 

%

 

Dominion Web Solutions, LLC(3)(8)(9)

 

First lien senior secured revolving loan

 

L + 6.25%

 

 

6/15/2023

 

 

 

 

 

(87

)

 

 

(87

)

 

 

-

 

%

 

Infoblox Inc.(3)(4)

 

Second lien senior secured loan

 

L + 8.75%

 

 

11/7/2024

 

 

30,000

 

 

 

29,444

 

 

 

29,850

 

 

 

2.8

 

%

 

 

 

 

 

 

 

 

 

 

 

 

 

124,231

 

 

 

122,181

 

 

 

122,580

 

 

 

11.3

 

%

 

Leisure and entertainment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UFC Holdings, LLC(3)(4)(12)

 

Second lien senior secured loan

 

L + 7.50%

 

 

8/18/2024

 

 

35,000

 

 

 

34,689

 

 

 

35,613

 

 

 

3.3

 

%

 

Manufacturing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Blount International, Inc.(3)(4)

 

First lien senior secured loan

 

L + 5.00%

 

 

4/12/2023

 

 

14,388

 

 

 

14,388

 

 

 

14,388

 

 

 

1.3

 

%

 

Pexco LLC(3)(5)

 

Second lien senior secured loan

 

L + 8.00%

 

 

5/8/2025

 

 

37,000

 

 

 

36,668

 

 

 

36,630

 

 

 

3.3

 

%