Anonymous ID: 8b6020 March 11, 2019, 3:35 p.m. No.5629309   🗄️.is 🔗kun

>>5629243

 

ITEM 5 — OTHER INFORMATION

 

Iran Threat Reduction and Syria Human Rights Act of 2012

 

Set forth below is a description of matters reported by us pursuant to Section 219 of the

Iran

Threat Reduction and Syria Human Rights Act of 2012 and Section 13(r) of the Exchange Act. Concurrently with the filing of this quarterly report, we are filing a notice pursuant to Section 13(r) of the Exchange Act that such matters have been disclosed in this quarterly report.

 

Since January 30, 2016, which was the beginning of Fiscal 2017, we engaged in three sales transactions reportable by us. In February 2016 and June 2016, we sold Dell desktop computers, computer stands, and a server, and associated warranty support, to the Embassy of the Government of Iran located in Germany. In June 2016, we sold Dell desktop computers and computer stands, and associated warranty support, to the Embassy of the Government of Iran located in France. We received total net revenue of approximately 4,998 Euros and realized net profits of approximately 1,231 Euros from the three sales (approximately $5,595 and $1,372, respectively, at the exchange rates for U.S. dollars at the date of the sale transactions). During Fiscal 2017, we provided product warranty support with those sales and under service warranty agreements related to Dell desktop computers and servers we sold in 13 transactions before Fiscal 2017 to the Embassies of the Government of Iran located in France, the Netherlands, and Italy. All of the foregoing warranty support was purchased at the time of the sale transactions, and we did not receive any additional payment for our performance of warranty support services. In August 2016, following our discovery of the foregoing transactions, we ceased to offer warranty support under the agreements. We do not intend to engage in future activity under any of the foregoing arrangements.

 

During Fiscal 2017, we were obligated to provide warranty support relating to two servers we sold before Fiscal 2017 to the Paris, France branch of the Bank of Saderat under a three-year warranty service contract entered into at the time of the sale. We did not receive any additional payment for our performance of such services. Bank of Saderat is an Iranian bank listed by the Treasury Department’s Office of Foreign Assets Control as a Specially Designated National. In September 2016, following our discovery of the foregoing transactions, we ceased to offer warranty support under the agreement. We do not intend to engage in future activity under the foregoing arrangement.

Anonymous ID: 8b6020 March 11, 2019, 3:37 p.m. No.5629356   🗄️.is 🔗kun

>>5629243

 

https://www.reuters.com/article/usa-security-snowden-dell/snowden-downloaded-nsa-secrets-while-working-for-dell-sources-say-idUSL2N0GF11220130815

Anonymous ID: 8b6020 March 11, 2019, 3:53 p.m. No.5629730   🗄️.is 🔗kun

>>5629243

 

https://www.reuters.com/article/owlrock-jvregents/lpc-owl-rock-forms-loan-fund-with-university-of-california-regents-idUSL1N1JQ0W9

 

June 29 (Reuters) - Alternative asset manager Owl Rock, which launched in 2016 and now manages more than US$3bn in assets, and Regents of the University of California have formed a strategic loan fund aimed at expanding the firm’s middle market direct lending platform.

 

The two parties have each committed an initial US$100m in equity capital, according to a June 22 regulatory filing.

 

The fund, structured as a 50-50 joint venture between Owl Rock Capital Corp, one of the firm’s two business development companies (BDCs), and Regents, the governing board of the University of California system, is expected to invest in senior secured loans that are made to middle market companies or in broadly syndicated loans.

 

BDCs are specialized investment funds that lend to US mid-sized companies. Funds include both publicly traded vehicles with shares listed on an exchange as well as private unlisted vehicles.

 

The off balance sheet vehicle will allow Owl Rock Capital Corp to employ additional leverage beyond the one-to-one total debt to equity cap for BDCs. Such off balance sheet investment strategies have been used by BDCs as a means to enhance portfolio returns when investing in a lower yielding environment.

 

BDC managers have used joint ventures of varying strategies, not only to boost yields, but also as a means to increase scale, commit larger amounts of capital and invest in bigger transactions.

 

Ares Capital Corp, the largest BDC by market capitalization and total assets, and asset manager Varagon Capital Partners announced the Senior Direct Lending Program joint venture in 2015. Regents also entered into a joint venture with Goldman Sachs BDC in 2014, according to regulatory filings.

 

Lenders to middle market businesses, including BDCs, as well as commercial finance companies and other direct lending platforms, have seen asset spreads erode as institutional investors chasing yield have increasingly turned to middle market loans.

 

Middle market institutional term loan yields have declined for three consecutive quarters to 6.22% in the most recent three-month period, Thomson Reuters LPC data show.

 

This year through June 27, LPC has tracked approximately US$28.6bn in total middle market fundraising, including capital allocated to debt funds and separately managed accounts, as well as BDC equity raises and middle market collateralized loan obligations. This follows a total of US$59bn raised last year for middle market lending strategies.

 

New loan supply has not kept pace with demand and existing portfolio companies have also sought to take advantage of investor appetite to slash borrowing rates, leaving lenders to deploy repayments at lower yields.

 

Regents had previously invested in Owl Rock, according to regulatory filings.

 

An Owl Rock spokesperson declined to comment. A spokesperson for Regents did not return a telephone call or e-mails seeking comment.

 

Owl Rock was founded by Douglas Ostrover, a founder of GSO Capital Partners, Blackstone Group’s credit investment unit, Marc Lipschultz, a former global head of energy and infrastructure at KKR, and Craig Packer, a former co-head of leveraged finance in the Americas at Goldman Sachs.

 

Owl Rock Capital Corp made its first portfolio company investment in April 2016 and as of March 31 its portfolio consisted of 60.7% first-lien debt investments and 39.3% second-lien debt investments, according to a May 10 regulatory filing.

 

Between April 1, 2017 and June 16, 2017, Owl Rock funded US$629.7m in commitments in new portfolio companies, according to a June regulatory filing.

 

New portfolio investments include travel document services provider CIBT Global Inc, power tool manufacturer Blount International, food service disposables distributor Dade Paper & Bag and veterinary hospital operator PetVet Care Centers. (Reporting by Leela Parker Deo and Kristen Haunss; Editing by Lynn Adler)

Anonymous ID: 8b6020 March 11, 2019, 3:55 p.m. No.5629772   🗄️.is 🔗kun

>>5629243

 

www.abladvisor.com/news/12165/owl-rock-forms-middle-market-loan-fund-with-u-cal-regents

 

Owl Rock Capital Corporation and Regents of the University of California entered into the Amended and Restated Limited Liability Company Agreement to co-manage a new lending vehicle named Sebago Lake LLC, according to a recent regulatory filing.

 

Sebago Lake is a 50-50 joint venture that is expected to invest in senior secured loans that are made to middle market companies or in broadly syndicated loans. The partners each contributed $100 million in capital commitments to the venture, according to the filing.

 

Between April 1, 2017 and June 16, 2017, Owl Rock funded US$629.7m in commitments in new portfolio companies, according to a June regulatory filing.

 

According to Reuters Owl Rock was founded by Douglas Ostrover, a founder of GSO Capital Partners, Blackstone Group’s credit investment unit, Marc Lipschultz, a former global head of energy and infrastructure at KKR, and Craig Packer, a former co-head of leveraged finance in the Americas at Goldman Sachs. Owl Rock currently manages more than $3 billion in assets.