Significant Credit Facilities Closed by Blue Owl BDCs in June 2024

Blue Owl Capital's BDCs secured major senior credit facilities in June 2024, while reporting slight NAV declines for Blue Owl Credit Income Corp. and Blue Owl Technology Income Corp.

August 01, 2024

Blue Owl Capital Inc. has completed significant senior secured credit facilities for its two non-listed business development companies, Blue Owl Credit Income Corp. and Blue Owl Technology Income Corp.

In June 2024, Blue Owl Credit Income Corp. secured a $2.2 billion senior credit facility, led by Blue Owl Capital, to support Arby Partners in refinancing Inspira Financial. Inspira, a portfolio company since 2019, provides IRA rollover services and health savings account solutions to over 84,000 employers.

Also in June, Blue Owl Technology Income Corp. closed a senior credit facility and equity investment for AlphaSense, aiding its acquisition of Tegus and refinancing an existing credit line. Blue Owl Capital arranged the credit, with Viking and MSD leading the equity investment. AlphaSense offers a machine-learning platform for comprehensive content search, including SEC filings and earnings transcripts.

As of June 2024, Blue Owl Credit Income Corp. reported a NAV per share of $9.53 for Class S (down 0.42% from May), $9.55 for Class D (down 0.31%), and $9.56 for Class I (down 0.31%). The average debt-to-equity leverage ratio stood at 0.76x, with $21.1 billion in debt investments spread across 329 companies, consisting of 87.9% first lien debt and 97.9% floating rate debt.

Meanwhile, Blue Owl Technology Income Corp. recorded a NAV per share of $10.42, reflecting a 0.48% decrease from May. The average debt-to-equity leverage ratio was 0.60x, with $4.2 billion in debt investments across 156 companies, comprising 87.5% first lien debt and 98.9% of debt at floating rates.

These developments underscore Blue Owl's strategic growth and robust investment in quality assets.