Blue Owl BDCs Declare Special Distributions to Be Paid in July

A pair of non-listed business development companies sponsored by Blue Owl Capital Inc. – Blue Owl Credit Income Corp. and Blue Owl Technology Income Corp. – each declared special distributions, payable on or before July 26, 2024, to shareholders of record as of June 28.

Blue Owl Credit Income Corp. declared their standard gross monthly distributions of $0.0701 for May, June, and July). The BDC declared a special distribution of $0.0327 per share payable on or before July 26, as previously described.

Blue Owl Technology Income Corp. declared gross monthly distributions of $0.074775 per share for May, June, and July (marginally lower than the $0.07478 paid during the prior quarter). It declared a special distribution of $0.03 per share. The BDC had also declared a $0.03 per share special distribution in March.

In other news:

Blue Owl Credit Income Corp. reported its April 2024 monthly net asset value per share as follows.

Class S shares had a NAV per share of $9.51 in April, compared to $9.50 in March, an increase of 0.105%.

Class D shares had a NAV per share of $9.52, compared to $9.51, an increase of 0.105%.

Class I shares had a NAV per share of $9.53 in April, the same value as in March.

Blue Owl Credit Income Corp. also announced the sale of unregistered Class I common shares to feeder vehicles, provided an update on its investment portfolio and current public offering, and entered into a $300 million secured credit facility with Citibank. It completed its previously announced private offering of $500 million of 6.6% notes due 2029, with net proceeds of approximately $488.2 million.

As of April 30, Blue Owl Credit Income Corp. had debt investments in 312 portfolio companies with an aggregate par value of $18.3 billion. As of April 30, its portfolio consisted of 86.1% first lien debt investments, 4.9% second lien debt investments, 1.2% unsecured debt investments, 3.8% preferred equity investments, 2.5% common equity investments, and 1.5% joint ventures. At the end of April, 98.4% of the debt investments in its portfolio were at floating rates.

Blue Owl Technology Income Corp. reported its April 2024 NAV per share at $10.45, up 0.096% from $10.44 in March. Blue Owl Technology Income Corp. also announced the sale of unregistered Class I common shares to feeder vehicles and provided an update on its investment portfolio and current public offering.

In April 2024, Blue Owl Capital Inc.’s credit platform closed on a $340 million senior secured credit facility, acting as a joint lead arranger. The financing supported Francisco Partners’ acquisition of Jama Software. Jama Software is a provider of requirements management software for product engineering workflows and related compliance.

As of April 30, Blue Owl Technology Income Corp. had debt investments in 147 portfolio companies with an aggregate value of $3.8 billion. As of April 30, its portfolio consisted of 86.9% first lien debt investments, 5.9% second lien debt investments, 0.8% unsecured debt investments, 5.4% preferred equity investments, and 1% common equity investments. At the end of April, 99.9% of the debt investments in its portfolio were at floating rates.

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