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Owl Rock Capital Corp (ORCC) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Owl Rock Capital Corp

CIK: 1655888 Ticker: ORCC

 

Exhibit 99.1

 

Owl Rock Capital Corp. Reports Second Quarter Net Investment Income Per Share of $0.30 and
NAV Per Share of $14.90

 

NEW YORK — August 4, 2021 — Owl Rock Capital Corporation (NYSE: ORCC, or the “Company”) today reported net investment income of $119.1 million, or $0.30 per share, and net income of $150.2 million, or $0.38 per share, for the second quarter ended June 30, 2021. Reported net asset value per share was $14.90 at June 30, 2021 as compared to $14.82 at March 31, 2021.

 

Craig W. Packer, Chief Executive Officer of Owl Rock Capital Corporation commented, “We are extremely pleased to deliver on a number of the objectives we have discussed in prior quarters. We are now well within our target leverage range and continue to grow the portfolio, and our earnings benefited from an increase in prepayment-related income. This quarter was also our third most active quarter of originations since inception, underscoring the strength of our platform.”

 

The Company’s Board of Directors has declared a third quarter 2021 dividend of $0.31 per share for stockholders of record as of September 30, 2021, payable on or before November 15, 2021.

 

PORTFOLIO AND INVESTING ACTIVITY

 

For the three months ended June 30, 2021, new investment commitments totaled $1,578.1 million across 16 new portfolio companies and 12 existing portfolio companies. This compares to $863.5 million for the three months ended March 31, 2021 across 8 new portfolio companies and 11 existing portfolio companies.

 

For the three months ended June 30, 2021, the principal amount of new investments funded was $1,405.6 million. For this period, the Company had $742.7 million aggregate principal amount in exits and repayments.

 

For the three months ended March 31, 2021, the principal amount of new investments funded was $684.4 million. For this period, the Company had $512.2 million aggregate principal amount in exits and repayments.

 

As of June 30, 2021 and March 31, 2021, the Company had investments in 129 and 120 portfolio companies with an aggregate fair value of $11.9 billion and $11.2 billion, respectively. As of June 30, 2021, the average investment size in each portfolio company was $92.3 million based on fair value.

 

As of June 30, 2021, based on fair value, our portfolio consisted of 76.2% first lien senior secured debt investments, 16.5% second lien senior secured debt investments, 1.6% unsecured notes, 1.5% preferred equity investments, 2.8% common equity investments and 1.4% investment funds and vehicles.

 

As of March 31, 2021, based on fair value, our portfolio consisted of 77.8% first lien senior secured debt investments, 16.0% second lien senior secured debt investments, 1.7% unsecured notes, 3.5% equity investments(1) and 1.0% investment funds and vehicles.

 

As of June 30, 2021 and March 31, 2021, based on fair value, approximately 92.7% and 93.8% of the portfolio was invested in secured debt, respectively. As of June 30, 2021, 99.9% of our debt investments based on fair value in our portfolio were at floating rates.

 

As of June 30, 2021 and March 31, 2021, the weighted average total yield of accruing debt and income-producing securities at fair value (which includes interest income and amortization of fees and discounts) remained at 8.3% and the weighted average total yield of accruing debt and income-producing securities at amortized cost (which includes interest income and amortization of fees and discounts) remained at 8.2%.

 

 

 (1 

) As of March 31, 2021, preferred equity investments and common equity investments were reported in aggregate as equity investments.

 


The following information was filed by Owl Rock Capital Corp (ORCC) on Wednesday, August 4, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Owl Rock Capital Corp's 10-Q Quarterly Report:
Ticker: ORCC
CIK: 1655888
Form Type: 10-Q Quarterly Report
Accession Number: 0000950170-21-000801
Submitted to the SEC: Wed Aug 04 2021 4:38:14 PM EST
Accepted by the SEC: Wed Aug 04 2021
Period: Wednesday, June 30, 2021

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