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Owl Rock Capital Corporation (NYSE: ORCC) has priced a public offering of $1.0 billion in 3.400% notes due 2026. The notes are redeemable at ORCC's option and are set to close on December 8, 2020, subject to customary conditions. Proceeds from the offering will be used to reduce existing debt under its Revolving Credit Facility, which has $1.295 billion in commitments. As of September 30, 2020, ORCC's investments in 110 portfolio companies totaled a fair value of $9.9 billion. Investors are encouraged to read the related SEC filings for more details.
Owl Rock Capital Corporation (NYSE: ORCC) reported strong third-quarter results for 2020, with net investment income of $127.4 million, or $0.33 per share, and net income of $216.0 million, or $0.56 per share. The net asset value per share increased to $14.67, up from $14.52 in the previous quarter. The company declared a $0.31 dividend for Q4 2020 and initiated a $100 million stock repurchase program. New investment commitments surged to $843.6 million, significantly higher than the previous quarter. Investment income saw a slight decline to $187.1 million, attributed to lower portfolio yield.
Owl Rock Capital Corporation (NYSE: ORCC) will announce its third quarter financial results for the period ending September 30, 2020, on November 4, 2020, after market close. A conference call is scheduled for November 5, 2020, at 10:00 a.m. Eastern Time, accessible via the investor section of ORCC's website. As of June 30, 2020, ORCC had investments in 102 portfolio companies valued at $9.2 billion. The company is externally managed by Owl Rock Capital Advisors LLC, with over $20 billion in assets under management as of September 30, 2020.
Owl Rock Capital Corporation (NYSE: ORCC) reported robust financial results for Q2 2020, with net investment income of $129.2 million ($0.34/share) and net income of $303.6 million ($0.79/share), reflecting resilience amid economic challenges. The net asset value rose to $14.52 from $14.09 in Q1 2020. The company declared a dividend of $0.31/share for Q3 2020. However, new investment commitments dropped to $342.7 million from $731 million in Q1 2020, raising concerns. As of June 30, 2020, 97.3% of the portfolio was in secured debt, with 98.7% of debt investments at floating rates.
On July 16, 2020, Owl Rock Capital Corporation (ORCC) announced the pricing of a public offering of $500 million in 4.250% notes due 2026, maturing on January 15, 2026. The offering, managed by leading financial institutions, is expected to close on July 23, 2020. The proceeds will be utilized to reduce existing debt under its SPV Asset Facility III, maturing December 14, 2023. This strategic move reflects ORCC's ongoing commitment to strengthen its capital structure and enhance financial stability.
Owl Rock Capital Corporation (ORCC) has announced its financial results release for the second quarter ended June 30, 2020, scheduled for August 4, 2020, after market close. A conference call will be held the following day at 10:00 a.m. ET to discuss these results. As of March 31, 2020, ORCC held investments in 101 portfolio companies with a total fair value of $8.9 billion and manages approximately $17.3 billion in assets. The company is regulated as a business development company under the Investment Company Act of 1940.