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Blue Owl Technology Finance (NYSE: OTF) extends and upsizes credit facility

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Blue Owl Technology Finance Corp. reported that it entered into a Fourth Amendment to its Amended and Restated Senior Secured Credit Agreement with lenders and Truist Bank. The changes extend the revolver availability period from December 2028 to June 2030 and push the scheduled maturity date from December 2029 to June 2031, giving the company a longer borrowing horizon.

The amendment also increases the accordion provision, allowing the total facility to be expanded to up to $4,012,500,000, while resetting the minimum shareholders’ equity test. At the same time, the swingline sublimit is reduced from $300,000,000 to $200,000,000 and the letter of credit sublimit is reduced from $200,000,000 to $125,000,000, refining how the overall capacity can be used.

Positive

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Negative

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Insights

Blue Owl extends debt facility tenor and refines sublimits.

Blue Owl Technology Finance Corp. amended its senior secured credit facility to extend both the revolver availability to June 2030 and final maturity to June 2031. Longer tenor typically supports more stable funding for its lending activities.

The accordion feature now permits increases to a total facility size of up to $4,012,500,000, while swingline and letter of credit sublimits are reduced to $200,000,000 and $125,000,000, respectively. The amendment also resets the minimum shareholders’ equity test, which shapes ongoing covenant headroom.

Overall, this looks like a refinancing and capacity-tuning action rather than a transformative event. Future periodic reports may clarify how much of the expanded accordion the company actually uses and how the revised covenants interact with its portfolio growth.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Revolver availability extension to June 2030 Availability period extended from December 2028
Maturity extension to June 2031 Scheduled maturity extended from December 2029
Accordion capacity $4,012,500,000 total facility Maximum facility size permitted by accordion provision
Swingline sublimit $200,000,000 Reduced from $300,000,000
Letter of credit sublimit $125,000,000 Reduced from $200,000,000
Senior Secured Credit Agreement financial
"Fourth Amendment to Amended and Restated Senior Secured Credit Agreement"
A senior secured credit agreement is a loan contract in which the borrower agrees to repay lenders first and backs the loan with specific assets as collateral, like a mortgage that gives a lender a claim on a house if payments stop. Investors care because this debt has priority over other obligations in a default, reducing lender risk and often constraining a company’s financial choices and cash flow, which can affect equity value and future financing.
accordion provision financial
"increases the accordion provision to permit increases to a total facility amount"
swingline sublimit financial
"reduces the swingline sublimit from $300,000,000 to $200,000,000"
A swingline sublimit is a reserved portion of a larger revolving loan that lets a borrower take very short-term, typically small, advances quickly for immediate cash needs—think of it as an emergency overdraft within a broader credit line. Investors care because the size and availability of the swingline sublimit indicate how easily a company can handle sudden cash shortfalls without tapping longer‑term debt, which affects short‑term liquidity risk and the likelihood of covenant breaches.
letter of credit sublimit financial
"reduces the letter of credit sublimit from $200,000,000 to $125,000,000"
minimum shareholders’ equity test financial
"resets the minimum shareholders’ equity test"
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Understanding 8-K Material Events →
false 0001747777 0001747777 2026-06-16 2026-06-16
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 16, 2026

 

 

BLUE OWL TECHNOLOGY FINANCE CORP.

(Exact name of Registrant as Specified in Its Charter)

 

 

 

Maryland   000-55977   83-1273258
(State or Other Jurisdiction
of Incorporation)		  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

399 Park Avenue  
New York, NY   10022
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s Telephone Number, Including Area Code: (212) 419-3000

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading
Symbol(s)

  

Name of each exchange
on which registered

Common Stock, par value $0.01 per share   OTF   The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934. 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. ☐

 

 
 

Item 1.01 – Entry into a Material Definitive Agreement

On June 16, 2026, Blue Owl Technology Finance Corp. (the “Company”) entered into the Fourth Amendment to Amended and Restated Senior Secured Credit Agreement (the “Fourth Amendment”), which amends that certain Amended and Restated Senior Secured Credit Agreement, dated as of November 15, 2022 (as amended by that certain First Amendment to Amended and Restated Senior Secured Revolving Credit Agreement, dated as of September 26, 2023, as amended by that certain Second Amendment to Amended and Restated Senior Secured Revolving Credit Agreement, dated as of June 13, 2024, and as amended by that certain Third Amendment to Amended and Restated Senior Secured Credit Agreement, dated as of December 20, 2024). The parties to the Fourth Amendment include the Company, as Borrower, the subsidiary guarantors party thereto solely with respect to Section 5.8 therein, the lenders party thereto and Truist Bank as Administrative Agent and, solely with respect to Section 5.10 therein, as Collateral Agent. The Fourth Amendment, among other things, (i) extends the revolver availability period from December 2028 to June 2030, (ii) extends the scheduled maturity date from December 2029 to June 2031, (iii) increases the accordion provision to permit increases to a total facility amount of up to $4,012,500,000, (iv) resets the minimum shareholders’ equity test, (v) reduces the swingline sublimit from $300,000,000 to $200,000,000 and (vi) reduces the letter of credit sublimit from $200,000,000 to $125,000,000.

Item 2.03 - Creation of a Direct Financial Obligation

The information set forth under Item 1.01 above is incorporated by reference into this Item 2.03.

 

Item 9.01.

Financial Statements and Exhibits

(d) Exhibits

 

Exhibit
Number

   

Description

10.1    Fourth Amendment to Amended and Restated Senior Secured Credit Agreement, dated as of June 16, 2026, between Blue Owl Technology Finance Corp., the Lenders party thereto and Truist Bank, as Administrative Agent.
104    Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    Blue Owl Technology Finance Corp.
Date: June 22, 2026     By:  

/s/ Jonathan Lamm

    Name:   Jonathan Lamm
    Title:   Chief Financial Officer and Chief Operating Officer

Source: View Original Filing on SEC EDGAR

FAQ

What did Blue Owl Technology Finance Corp. (OTF) disclose in this 8-K?

Blue Owl Technology Finance Corp. disclosed a Fourth Amendment to its Senior Secured Credit Agreement. The amendment extends the revolver availability and maturity dates, adjusts sublimits, increases the accordion capacity, and resets the minimum shareholders’ equity test that governs one of its key financial covenants.

How does the credit facility amendment affect Blue Owl Technology Finance (OTF) maturities?

The amendment extends the revolver availability period from December 2028 to June 2030 and the scheduled maturity date from December 2029 to June 2031. This pushes out key funding deadlines, providing a longer-term committed capital structure for the company’s credit activities.

What is the new maximum facility size under Blue Owl Technology Finance’s (OTF) credit agreement?

The Fourth Amendment increases the accordion provision to permit total facility increases up to $4,012,500,000. This means, subject to conditions in the agreement, the lenders can expand the overall borrowing capacity to that higher ceiling over time if demand and approvals align.

How were swingline and letter of credit sublimits changed for Blue Owl Technology Finance (OTF)?

The swingline sublimit was reduced from $300,000,000 to $200,000,000 and the letter of credit sublimit from $200,000,000 to $125,000,000. These changes rebalance how much of the total facility can be used for short-term swingline loans and letters of credit within the broader structure.

Which parties are involved in Blue Owl Technology Finance’s amended credit agreement?

The key parties are Blue Owl Technology Finance Corp. as borrower, subsidiary guarantors for certain sections, the lenders party to the agreement, and Truist Bank. Truist serves as Administrative Agent and, for a specific section, as Collateral Agent under the amended senior secured facility.

Did Blue Owl Technology Finance (OTF) change any covenant tests in the amendment?

Yes. The Fourth Amendment resets the minimum shareholders’ equity test under the credit agreement. This adjustment affects how the company’s equity base is measured against required thresholds, influencing ongoing covenant compliance and the flexibility of its capital structure over time.

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

Other Documents