TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
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The Importance of Stretching
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SFNet's 40 Under 40 Award Winners Panel Recap
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SFNet's Inaugural YoPro Leadership Summit
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It’s a Marathon, Not a Sprint
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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September 15, 2025
Source: AInvest
Blue Owl Capital and Oak Hill Advisors are leading a $1.3 billion private debt package for Wrench Group, replacing its bank financing. The package includes a term loan, delayed-draw loan, and revolving credit facility. Wrench Group is backed by private equity firms Leonard Green & Partners, TSG Consumer Partners, and Oak Hill Capital. Crescent Capital Group is also a lender. The deal replaces Wrench's existing leveraged loan and marks a notable refinancing in the private credit market.
A consortium of private credit firms, led by Blue Owl Capital Inc. and Oak Hill Advisors, has arranged a $1.3 billion debt package for Wrench Group. This package replaces the residential services company's existing bank financing and includes a term loan, a delayed-draw loan, and a revolving credit facility. The term loan bears interest at 4.75 percentage points over the US benchmark and was sold at a discount of 99 cents on the dollar Blue Owl Capital Corporation $OBDC Holdings Boosted by Trinity Financial Advisors LLC[1].Wrench Group provides residential HVAC, plumbing, and electrical services. It is backed by private equity firms Leonard Green & Partners, TSG Consumer Partners, and Oak Hill Capital. Crescent Capital Group is also a lender in the new financing. Blue Owl will act as the administrative agent on the loan Blue Owl Capital Corporation $OBDC Holdings Boosted by Trinity Financial Advisors LLC[1].
The deal replaces Wrench's existing leveraged loan and is a significant refinancing in the private credit market. It comes amidst ongoing competition between banks and direct lenders for debt refinancings. Other notable recent transactions include a group of private credit firms led by BlackRock Inc. refinancing leveraged loans for Syndigo, and Liquid Tech Solutions turning to the leveraged loan market for an $808 million deal to refinance private debt Blue Owl Capital Corporation $OBDC Holdings Boosted by Trinity Financial Advisors LLC[1].
Representatives for Blue Owl and Oak Hill Advisors declined to comment on the deal. Crescent, Leonard Green, TSG, Oak Hill Capital, and Wrench Group did not respond to requests for comment. Jefferies Financial Group Inc., the agent on Wrench Group’s bank debt, has informed lenders that the company’s existing leveraged loan is being paid off Blue Owl Capital Corporation $OBDC Holdings Boosted by Trinity Financial Advisors LLC[1].