01/11/2024 | Press release | Distributed by Public on 01/11/2024 19:33
Item 1.01. |
Entry Into a Material Definitive Agreement |
On October 30, 2024 (the "Amendment Date"), ORTF Funding I LLC ("ORTF Funding I"), a subsidiary of Blue Owl Technology Finance Corp. (the "Company"), entered into Amendment No. 2 (the "Amendment No. 2" and the facility as amended, the "Secured Credit Facility"), which amended (a) that certain Credit Agreement, dated as of November 16, 2021, as amended by Amendment No. 1 to the Credit Agreement, dated June 23, 2023, by and among ORTF Funding I, as borrower, the lenders from time to time parties thereto, Goldman Sachs Bank USA as Sole Lead Arranger, Syndication Agent and Administrative Agent, State Street Bank and Trust Company as Collateral Administrator and Collateral Agent and Alter Domus (US) LLC as Collateral Custodian and (b) that certain Margining Agreement, dated as of November 16, 2021, between ORTF Funding I, as borrower, and Goldman Sachs Bank USA, as administrative agent and calculation agent. Among other changes, the Amendment (i) replaced Alter Domus (US) LLC with State Street Bank and Trust Company as Collateral Custodian under the Credit Agreement, (ii) increased the Commitments under the Secured Credit Facility from $300,000,000 to $400,000,000, (iii) extended the Reinvestment Period through November 16, 2027 and the Scheduled Maturity Date to November 16, 2029, (iv) reduced the Spread from 2.625% to 2.400% and removed the Term SOFR Adjustment, (v) amended the definitions of Material Amendment and Specified Change and the processes related thereto and (vi) amended the definition of Minimum Spread Payment. The Amendment also amended the definitions of Cash Payment Threshold and Value Adjustment Event under the Margining Agreement.
Borrowings of ORTF Funding I are considered our borrowings for purposes of complying with the asset coverage requirements under the 1940 Act.