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Owl Rock Capital Corp II

Company profile

Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
OR LENDING II LLC • ORCC II FINANCING LLC • ORCC II FINANCING II LLC • OR DH II LLC • OR MH II LLC • OR HH II LLC • OR HEH II LLC • OR Long Island MH II LLC • OR Garden State MH II LLC • OR Toronto MH II LLC ...

Calendar

10 Aug 22
15 Aug 22
31 Dec 22
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
26 Feb 21 Kirshenbaum Alan Common Stock Other Dispose J No No 0 13,889 0 13,889

Financial report summary

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Management Discussion
  • Net increase (decrease) in net assets resulting from operations can vary from period to period as a result of various factors, including the level of new investment commitments, expenses, the recognition of realized gains and losses and changes in unrealized appreciation and depreciation on the investment portfolio. For the quarter ended June 30, 2022, our net asset value per share decreased slightly, primarily driven by market spreads widening.
  • Investment income increased to $50.2 million for the three months ended June 30, 2022 from $48.3 million for the same period in prior year primarily due to an increase in interest rates and an increase in dividend income, which increased from $1.6 million as of June 30, 2021 to $3.3 million as of June 30, 2022. The incremental increase in investment income for the period was primarily driven by dividend income earned from our investment in the Windows Entities, which increased to $1.4 million from $1.1 million for the three months ended June 30, 2022 and 2021, respectively, and a one time dividend of $0.8 million from New PLI Holdings, LLC as of the three months ended June 30, 2022 that was not earned in the same period in prior year. Included in interest income are other fees such as prepayment fees and accelerated amortization of upfront fees from unscheduled paydowns. Period over period, income generated from unscheduled paydown activity decreased to $0.9 million from $2.6 million, for the three months ended June 30, 2022 and 2021, respectively, and was driven in part by a decrease in unscheduled paydowns. For the three months ended June 30, 2022 and 2021, PIK income represented 12.0% and less than 5% of investment income, respectively. Other income increased period-over-period due to a decrease in incremental fee income, which are fees that are generally available to us as a result of closing investments and generally paid at the time of closing. Based on current market conditions, we expect repayments, and in turn, originations, to remain modest.
  • Investment income increased to $98.6 million for the six months ended June 30, 2022 from $91.3 million for the same period in prior year primarily due to rising yields and interest rates and an increase in dividend income, which increased from $2.6 million as of June 30, 2021 to $5.8 million as of June 30, 2022. In addition to the portfolio growth, the incremental increase in investment income for the period was further driven by dividend income earned from our investment in the Windows Entities, which increased to

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