Business Development Company

KBRA Assigns Rating to Blue Owl Technology Finance Corp. II's $700 Million Senior Unsecured Notes

Retrieved on: 
Thursday, March 28, 2024
Banking, Professional Services, Insurance, Finance, Risk management, Growth, BBB, Risk, Application software, System, Business Development Company, BDC, KBRA, Diversification, Blue Owl Capital, Investment, AUM, RIC, OTF, Bank

KBRA assigns a rating of BBB to Blue Owl Technology Finance Corporation II’s (“OTF II” or “the company”) $700 million, 6.750% senior unsecured notes due 2029.

Key Points: 
  • KBRA assigns a rating of BBB to Blue Owl Technology Finance Corporation II’s (“OTF II” or “the company”) $700 million, 6.750% senior unsecured notes due 2029.
  • OTF II’s growth capital portfolio comprised 13.2% of the investment portfolio and had a weighted average enterprise value of $12.8 billion.
  • The company is managed by Blue Owl Technology Credit Advisors II LLC, an affiliate Blue Owl Capital, Inc., which had approximately $165+ billion of AUM as of December 31, 2023.
  • The company’s investment strategy coincides with the strategy of Blue Owl Technology Finance Corp. (KBRA Issuer/Senior Unsecured Debt ratings of BBB/Stable Outlook) and Blue Owl Technology Income Corp. (KBRA Issuer/Senior Unsecured Debt ratings of BBB/Stable Outlook).

KBRA Assigns Rating to T. Rowe Price OHA Select Private Credit Fund's $300 Million Notes due 2029

Retrieved on: 
Thursday, March 7, 2024
Professional Services, Finance, BDC, BBB, OHA, Consumer service, T. Rowe Price, Investment, High tech, AUM, Risk, Business Development Company, Corporate services, KBRA, TROW, Assets under management, Credit, RIC, Education

KBRA assigns a rating of BBB to T. Rowe Price OHA Select Private Credit Fund's (“OCREDIT” or “the company”) $300 million 7.77% senior unsecured notes due March 7, 2029.

Key Points: 
  • KBRA assigns a rating of BBB to T. Rowe Price OHA Select Private Credit Fund's (“OCREDIT” or “the company”) $300 million 7.77% senior unsecured notes due March 7, 2029.
  • The rating and Outlook are supported by T. Rowe Price OHA Select Private Credit Fund’s ties to Oak Hill Advisors, L.P.’s (“OHA”) $63 billion of Assets Under Management, which includes the $28 billion private credit platform that has obtained SEC exemptive relief to co-invest with OHA affiliates.
  • T. Rowe Price Group, Inc. (NASDAQ: TROW), the parent company of OHA (acquired in 2021), is a global asset manager with approximately $1.45 trillion in AUM.
  • OHA has a strong reputation as a trusted, value-added financing partner which has been cultivated over decades with companies and private equity sponsors (~150).

KBRA Assigns Rating to Goldman Sachs BDC, Inc.'s $400 Million 6.375% Senior Unsecured Notes Due 2027

Retrieved on: 
Wednesday, March 6, 2024
Banking, Professional Services, Finance, BDC, BBB, Goldman Sachs, Credit Corp Group, Issuer, Investment, Risk management, ESG, Diversification, Risk, Business Development Company, GS, KBRA, Professional services, Research, RIC

KBRA assigns a rating of BBB to Goldman Sachs BDC, Inc.'s (“GSBD” or “the company”) $400 million 6.375% senior unsecured notes due March 11, 2027.

Key Points: 
  • KBRA assigns a rating of BBB to Goldman Sachs BDC, Inc.'s (“GSBD” or “the company”) $400 million 6.375% senior unsecured notes due March 11, 2027.
  • The rating is supported by Goldman Sachs BDC, Inc.'s ties to Goldman Sachs' ("GS") $2.5 trillion of Assets Under Supervision along with SEC exemptive relief to co-invest with GS affiliates.
  • The company is managed by Goldman Sachs Asset Management, L.P. ("GSAM"), an affiliate of Goldman Sachs & Co. LLC.
  • GSBD's affiliate BDC, Goldman Sachs Private Credit Corp., is rated by KBRA (Issuer and Senior Unsecured Debt Ratings: BBB/Stable Outlook).

KBRA Expects to Rate Goldman Sachs BDC, Inc.'s Senior Unsecured Notes BBB

Retrieved on: 
Wednesday, March 6, 2024
Banking, Professional Services, Finance, BDC, BBB, Goldman Sachs, Credit Corp Group, Issuer, Investment, Risk management, Diversification, Risk, Business Development Company, GS, KBRA, Professional services, Research, RIC

KBRA expects to rate Goldman Sachs BDC, Inc.'s (“GSBD” or “the company”) issuance of senior unsecured notes BBB.

Key Points: 
  • KBRA expects to rate Goldman Sachs BDC, Inc.'s (“GSBD” or “the company”) issuance of senior unsecured notes BBB.
  • The rating is supported by Goldman Sachs BDC, Inc.'s ties to Goldman Sachs' ("GS") $2.5 trillion of Assets Under Supervision along with SEC exemptive relief to co-invest with GS affiliates.
  • The company is managed by Goldman Sachs Asset Management, L.P. ("GSAM"), an affiliate of Goldman Sachs & Co. LLC.
  • GSBD's affiliate BDC, Goldman Sachs Private Credit Corp., is rated by KBRA (Issuer and Senior Unsecured Debt Ratings: BBB/Stable Outlook).

KBRA Assigns Rating to Blue Owl Credit Income Corp.'s $750 Million 6.65% Senior Unsecured Notes due 2031

Retrieved on: 
Monday, January 29, 2024
Professional Services, Finance, OCIC, BDC, Business Development Company, KBRA, BBB, Blue Owl Capital, Risk, Investment, Risk management, Lisp (programming language), AUM, RIC, Growth

KBRA assigns a rating of BBB to Blue Owl Credit Income Corp.'s (“OCIC” or “the company”) $750 million 6.65% senior unsecured notes due March 15, 2031.

Key Points: 
  • KBRA assigns a rating of BBB to Blue Owl Credit Income Corp.'s (“OCIC” or “the company”) $750 million 6.65% senior unsecured notes due March 15, 2031.
  • KBRA believes that the company’s targeted leverage metrics allow OCIC to absorb increased volatility in less favorable market conditions.
  • The company’s investment strategy coincides with the strategies of Blue Owl Capital Corporation (KBRA Issuer/Senior Unsecured Debt ratings of BBB / Positive Outlook), Blue Owl Capital Corporation II (KBRA Issuer/Senior Unsecured Debt Ratings of BBB / Positive Outlook), and Blue Owl Capital Corporation III (KBRA Issuer/Senior Unsecured Debt ratings of BBB / Stable Outlook).
  • Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

KBRA Assigns Ratings to T. Rowe Price OHA Select Private Credit Fund (OCREDIT)

Retrieved on: 
Monday, January 29, 2024
Professional Services, Finance, T. Rowe Price, High tech, Consumer service, Credit, BDC, Business Development Company, Corporate services, KBRA, Assets under management, TROW, OHA, BBB, Risk, Education, Investment, AUM, RIC, Security (finance)

KBRA assigns issuer and senior unsecured debt ratings of BBB to T. Rowe Price OHA Select Private Credit Fund (“OCREDIT” or “the company”).

Key Points: 
  • KBRA assigns issuer and senior unsecured debt ratings of BBB to T. Rowe Price OHA Select Private Credit Fund (“OCREDIT” or “the company”).
  • The ratings and Outlook are supported by T. Rowe Price OHA Select Private Credit Fund’s ties to Oak Hill Advisors, L.P.’s (“OHA”) $63 billion of Assets Under Management, which includes the $28 billion private credit platform that has obtained SEC exemptive relief to co-invest with OHA affiliates.
  • T. Rowe Price Group, Inc. (NASDAQ: TROW), the parent company of OHA (acquired in 2021), is a global asset manager with approximately $1.45 trillion in AUM.
  • OHA has a strong reputation as a trusted, value-added financing partner which has been cultivated over decades with companies and private equity sponsors (~150).

KBRA Assigns Rating to Blue Owl Capital Corporation's $600 Million 5.95% Senior Unsecured Notes Due 2029

Retrieved on: 
Thursday, January 18, 2024
Banking, Professional Services, Finance, OBDC, BDC, Business Development Company, KBRA, Positive, SPV, BBB, Blue Owl Capital, Risk, Environment, Investment, Risk management, Lisp (programming language), RIC, Outlook, Bank

KBRA assigns a rating of BBB to Blue Owl Capital Corporation's (NYSE: OBDC or "the company") $600 million 5.95% senior unsecured notes due March 15, 2029.

Key Points: 
  • KBRA assigns a rating of BBB to Blue Owl Capital Corporation's (NYSE: OBDC or "the company") $600 million 5.95% senior unsecured notes due March 15, 2029.
  • OBDC maintains solid access to the capital markets with a diversified funding mix of secured bank facilities, CLOs, and senior unsecured debt.
  • The company is managed by Blue Owl Credit Advisors LLC, an indirect subsidiary of Blue Owl Capital,Inc.
  • The company’s investment strategy coincides with the strategies of Blue Owl Capital Corporation II (KBRA Issuer/Senior Unsecured Debt ratings of BBB/Positive Outlook), Blue Owl Capital Corporation III (KBRA Issuer/Senior Unsecured Debt ratings of BBB/Stable Outlook), and Blue Owl Credit Income Corp. (KBRA Issuer/Senior Unsecured Debt ratings of BBB/Stable Outlook).

LawFi partners with Capital Q Ventures for its $1.5 million Pre-Seed Funding Round

Retrieved on: 
Wednesday, December 20, 2023
Banking, Technology, Professional Services, Payments, Other Technology, Apps, Applications, Software, Legal, Fintech, Mobile, Wireless, Finance, Business Development Company, Partnership, Private law, Justice, Acquisition, Access, Lawyer, CPC, Text, Growth, Capital, BDC

LawFi, Inc., (“ LawFi ”) a pioneering Legal Fintech Lender and the Inventor of the “Legal Fee Loan” announced today its strategic capital partnership with Capital Q Ventures, Inc., (“ Q ”) and their Fund CAPQ BDC a renowned Business Development Company.

Key Points: 
  • LawFi, Inc., (“ LawFi ”) a pioneering Legal Fintech Lender and the Inventor of the “Legal Fee Loan” announced today its strategic capital partnership with Capital Q Ventures, Inc., (“ Q ”) and their Fund CAPQ BDC a renowned Business Development Company.
  • The partnership with Capital Q Ventures involves a comprehensive capital acquisition and fundraising initiative, aimed at propelling LawFi's innovative platform to new heights.
  • Capital Q Ventures has made an initial financial commitment to close the funding round, contingent on the final approval of its Board of Directors.
  • "The collaboration with Capital Q Ventures is a game-changer,” said Steven Highfill, CPC, Founder and CEO of LawFi.

KBRA Assigns Rating to Blue Owl Technology Income Corp.'s $75 Million Floating Rate Senior Unsecured Notes

Retrieved on: 
Wednesday, December 20, 2023
Banking, Professional Services, Finance, Business Development Company, Blue Owl Capital, Risk, BBB, KBRA, AUM, RIC, Investment, Growth, SVP, Risk management, BDC

KBRA assigns a BBB rating to Blue Owl Technology Income Corporation’s (“OTIC” or “the company”) $75 million floating rate senior unsecured notes due January 15, 2027.

Key Points: 
  • KBRA assigns a BBB rating to Blue Owl Technology Income Corporation’s (“OTIC” or “the company”) $75 million floating rate senior unsecured notes due January 15, 2027.
  • The company changed its name from Owl Rock Technology Income Corporation effective July 6, 2023.
  • The company is managed by Blue Owl Technology Credit Advisors II LLC, an indirect subsidiary of Blue Owl Capital, Inc. (NYSE: OWL), which had approximately $157 billion of AUM, as of September 30, 2023.
  • The company’s investment strategy coincides with the strategies of Blue Owl Technology Finance Corp. (KBRA Issuer/Senior Unsecured Debt ratings of BBB/Stable Outlook) and Blue Owl Technology Finance Corp. II (KBRA Issuer/Senior Unsecured Debt ratings of BBB/Stable Outlook).

KBRA Assigns Ratings to Goldman Sachs BDC, Inc.

Retrieved on: 
Wednesday, December 6, 2023
Professional Services, Finance, EBITDA, GS, KBRA, Issuer, Research, Risk management, Investment, Risk, Business Development Company, BDC, Goldman Sachs, BBB, Professional services, RIC, Credit Corp Group, LTV, Security (finance), Software

KBRA assigns issuer and senior unsecured debt ratings of BBB to Goldman Sachs BDC, Inc. (“GSBD” or “the company”).

Key Points: 
  • KBRA assigns issuer and senior unsecured debt ratings of BBB to Goldman Sachs BDC, Inc. (“GSBD” or “the company”).
  • The ratings and Outlook are supported by Goldman Sachs BDC, Inc.'s ties to Goldman Sachs' ("GS") $3 trillion of Assets Under Supervision, including the $55 billion global senior direct lending platform that allows for SEC exemptive relief to co-invest with GS affiliates.
  • The company is managed by Goldman Sachs Asset Management, L.P. ("GSAM"), an affiliate of Goldman Sachs & Co. LLC.
  • GSBD's affiliate BDC, Goldman Sachs Private Credit Corp., is rated by KBRA (Issuer and Senior Unsecured Debt: BBB/Stable).