# EDGAR Filing Document

**Accession Number:** 0001812554
**File Stem:** 0001193125-23-077977
**Filing Date:** 2023-3
**Character Count:** 12851
**Document Hash:** bb60bddf3e5eafda2debf8b344ea9cc4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-077977.hdr.sgml**: 20230323

**ACCESSION NUMBER**: 0001193125-23-077977

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20230321

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Other Events

**FILED AS OF DATE**: 20230323

**DATE AS OF CHANGE**: 20230323

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Owl Rock Core Income Corp.
- **CENTRAL INDEX KEY:** 0001812554
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 814-01369
- **FILM NUMBER:** 23756816

**BUSINESS ADDRESS:**
- **STREET 1:** 399 PARK AVENUE
- **STREET 2:** 38TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (212) 419-3000

**MAIL ADDRESS:**
- **STREET 1:** 399 PARK AVENUE
- **STREET 2:** 38TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

?xml version="1.0" encoding="utf-8" ? OWL ROCK CORE INCOME CORP.

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### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### WASHINGTON, D.C. 20549

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### FORM 8-K

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#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d)

#### of the Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): March 21, 2023

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## OWL ROCK CORE INCOME CORP.

#### (Exact name of Registrant as Specified in Its Charter)

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| | | |
|:---|:---|:---|
| **Maryland** | **814-01369** | **85-1187564** |
| **(State or Other Jurisdiction**<br> **of Incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification No.)** |

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| | |
|:---|:---|
| **399 Park Avenue**<br> **New York, NY** | **10022** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

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

#### Not Applicable

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

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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:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br> **Symbol(s)** | **Name of each exchange**<br> **on which registered** |

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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. ☐

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#### Item 3.02. Unregistered Sale of Equity Securities.
As of March 1, 2023, Owl Rock Core Income Corp. (the "**Company**," "**we**" or "**us**") sold approximately 745,389 unregistered shares of its Class I common stock (with the final number of shares being determined on March 21, 2023) to feeder vehicles primarily created to hold the Company's Class I shares for gross proceeds of approximately $6.9 million. The offer and sale of these Class I shares was exempt from the registration provisions of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) and/or Regulation S thereunder (the "**Private Offering**").

#### Item 8.01. Other Events.

#### Status of the Offering
The Company is currently publicly offering on a continuous basis up to $7.5 billion in Shares (the "**Offering**"). As of March 1, 2023, the Company has raised total gross proceeds of approximately $5.88 billion relating to the issuance of shares of Class S, Class D and Class I common stock (the "**Shares**") in the Offering and the Company's initial continuous public offering of up to $2.5 billion in Shares. As of March 1, 2023, the Company has issued approximately 216,760,729 shares of its Class S common stock, approximately 53,431,198 shares of its Class D common stock, and approximately 366,546,216 shares of its Class I common stock in its public offerings, and has raised total gross proceeds related to the issuance of Class S common stock, Class D common stock and Class I common stock of approximately $2.01 billion, approximately $493.3 million, and approximately $3.37 billion, respectively, including seed capital of $1,000 contributed by Owl Rock Capital Advisors LLC (the "**Adviser**") in September 2020 and approximately $25.0 million in gross proceeds raised from Owl Rock Feeder FIC ORCIC Equity LLC, an entity affiliated with the Adviser. In addition, the Company has issued approximately 15,654,376 shares of its Class I common stock in the Private Offering and raised gross proceeds of approximately $143.4 million.

**Recent Owl Rock Transaction Highlights<sup>1</sup>** 

In March 2023, Owl Rock closed on a $875.0 million senior secured credit facility as the Joint Lead Arranger and Administrative Agent in support of New Mountain's carveout of PerkinElmer. Owl Rock also served as the lead lender in the club. PerkinElmer is a leading provider of lab equipment, consumables, and technical services to multiple industries, but has a notable presence in the biopharma, food, and environmental and safety end markets.

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| | |
|:---|:---|
| 1 | The information provided, including dollar amounts, represents the aggregated investment of all participating vehicles, including the Company, managed by the Owl Rock division of Blue Owl Capital Inc. The final dollar amount of the Company's portion of the investment will be determined and disclosed in the Company's future periodic reports. |

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#### March 1, 2023 Public Offering Price
In accordance with the Company's share pricing policy, we intend to sell our shares on the first of each month at a net offering price that we believe reflects the net asset value per share at the end of the preceding month. The March 1, 2023 public offering price for each of our share classes is approximately equal to such class's NAV per share as of February 28, 2023, plus applicable maximum upfront sales load.

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| | | |
|:---|:---|:---|
|  | **Net Asset** <br>**Value<br>(per share)** | **Maximum<br>Offering Price<br>(per share)** |
|  Class S | $9.23 | $9.55 |
|  Class D | $9.24 | $9.38 |
|  Class I | $9.26 | $9.26 |

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The average debt-to-equity leverage ratio during the month-to-date period ended February 28, 2023 was 0.96x. The table below summarizes the company's committed debt capacity and drawn amounts as of February 28, 2023.

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| | | |
|:---|:---|:---|
| ($ in thousands) | **Aggregate Principal<br>Committed** | **Outstanding Principal** |
|  Revolving Credit Facility | $1845000 | $471802 |
|  SPV Asset Facility I | 550000 | 440430 |
|  SPV Asset Facility II | 1800000 | 1538000 |
|  SPV Asset Facility III | 750000 | 555000 |
|  SPV Asset Facility IV | 500000 | 465000 |
|  CLO VIII | 290000 | 290000 |
|  March 2025 Notes | 500000 | 500000 |
|  September 2026 Notes | 350000 | 350000 |
|  February 2027 Notes | 500000 | 500000 |
|  September 2027 Notes | 600000 | 600000 |
|  **Total Debt** | $**7685000** | $**5710232** |

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Of the Company's committed debt capacity, $5.7 billion (74.0%) is in secured floating rate leverage and $2.0 billion (26.0%) is in unsecured fixed rate leverage.

#### Portfolio Update
As of February 28, 2023, we had debt investments in 200 portfolio companies with an aggregate par value of $10.4 billion. As of February 28, 2023, based on par value, our portfolio consisted of 78.9% first lien debt investments, 10.7% second lien debt investments, 1.9% unsecured debt investments, 4.8% preferred equity investments, 2.2% common equity investments, and 1.5% investment funds and vehicles. As of February 28, 2023, 98.9% of the debt investments based on par value in our portfolio were at floating rates. The table below describes investments by industry composition based on par value, excluding equity investments, as of February 28, 2023.

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| | | |
|:---|:---|:---|
| **Industry** | **Par<br>($ in thousands)** | **% of<br>Par** |
|  Healthcare providers and services | $1563305 | 15.0% |
|  Internet software and services | 1487958 | 14.2% |
|  Insurance | 1061587 | 10.2% |
|  Business services | 761121 | 7.2% |
|  Food and beverage | 631504 | 6.1% |
|  Healthcare technology | 468754 | 4.5% |
|  Containers and packaging | 432816 | 4.1% |
|  Financial services | 416638 | 4.0% |
|  Healthcare equipment and services | 413352 | 4.0% |
|  Specialty retail | 339718 | 3.3% |
|  Manufacturing | 334228 | 3.2% |
|  Advertising and media | 310690 | 3.0% |
|  Professional services | 310246 | 3.0% |
|  Consumer products | 274858 | 2.6% |
|  Distribution | 265839 | 2.5% |
|  Household products | 260962 | 2.5% |
|  Buildings and real estate | 229747 | 2.2% |
|  Chemicals | 183133 | 1.8% |
|  Education | 146058 | 1.4% |
|  Leisure and entertainment | 133262 | 1.3% |
|  Human resource support services | 112465 | 1.1% |
|  Automotive | 107510 | 1.0% |
|  Infrastructure and environmental services | 102348 | 1.0% |
|  Aerospace and defense | 39058 | 0.4% |
|  Transportation | 36052 | 0.3% |
|  Energy equipment and services | 5991 | 0.1% |
|  Asset based lending and fund finance | 1907 | 0.0% |
|  Telecommunications | 1145 | 0.0% |
|  **Total** | $**10432252** | **100.0%** |

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**Past performance is not necessarily indicative of future performance, and there can be no assurance that we will achieve comparable investment results, or that any targeted returns will be met.**

Statements contained herein that are not historical facts are based on current expectations, estimates, projections, opinions, and/or beliefs of our management. Such statements involve known and unknown risks, uncertainties, and other factors, and undue reliance should not be placed thereon. Certain information contained herein constitutes "forward-looking statements," which can be identified by the use of terms such as "may", "will", "should", "expect", "project", "estimate", "intend", "continue", "target", or "believe" (or the negatives thereof) or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or our actual performance may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward-looking statements in making their investment decisions.

The estimates presented above are based on management's preliminary determinations only and, consequently, the data set forth in our Form 10-Q or 10-K may differ from these estimates, and any such differences may be material. In addition, the information presented above does not include all of the information regarding our financial condition and results of operations that may be important to investors. As a result, investors are cautioned not to place undue reliance on the information presented above. The information presented above is based on management's current expectations that involve substantial risk and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, such information. We assume no duty to update these preliminary estimates except as required by law.

Neither KPMG LLP, our independent registered public accounting firm, nor any other independent accountants, have audited, reviewed, compiled or performed procedures with respect to the preliminary financial data contained herein. Accordingly, KPMG LLP does not express an opinion or any form of assurance with respect thereto and assumes no responsibility for, and disclaims any association with, this information.

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

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| | | |
|:---|:---|:---|
|  | **OWL ROCK CORE INCOME CORP.** | **OWL ROCK CORE INCOME CORP.** |
| Dated: March 23, 2023 | By: | /s/ Bryan Cole |
|  |  | **Name:** Bryan Cole<br> **Title:** Chief Operating Officer and Chief Financial Officer |

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