Blue Owl Credit Income Corp., a non-listed business development company sponsored by Blue Owl Capital Inc., announced that Blue Owl Credit’s capital platform closed on a senior secured credit facility, along with other updates concerning its monthly net asset value.
In August 2024, Blue Owl Capital Inc.’s credit platform closed on a $320 million senior secured credit facility. Blue Owl Capital was the administrative agent and sole lead arranger to support Nordic Capital’s acquisition of Surgical Information Systems, a provider of practice management and electronic medical record software solutions primarily to ambulatory surgery centers. Blue Owl Capital will hold 100% of the credit facility.
This closing follows closely on the heels of the multiple senior credit facilities which Blue Owl BDCs closed on earlier this summer.
Blue Owl Credit Income Corp. also reported its August 2024 monthly net asset value per share as follows.
Class S shares had a NAV per share of $9.56 in August, compared to $9.55 in July, an increase of approximately 0.11%.
Class D shares had a NAV per share of $9.57, compared to $9.56, an increase of approximately 0.11%.
Class I shares remained at a NAV per share of $9.58 in August, the same value as in July.
The average debt-to-equity leverage ratio during the month-to-date period ended Aug. 31 was 0.80x. Of the company’s committed debt capacity, $9.6 billion (68.1%) was in secured floating rate leverage and $4.5 billion (31.9%) was in unsecured fixed rate leverage. Of the company’s $4.5 billion unsecured fixed rate leverage, $3.1 billion was hedged by interest rate swaps for which it receives fixed rate interest and pays variable rate interest.
As of Aug. 31, Blue Owl Credit Income Corp. had debt investments in 337 portfolio companies with an aggregate par value of $23.1 billion. The portfolio consisted of 88.6% first lien debt investments, 4.2% second lien debt investments, 1.8% unsecured debt investments, 2% preferred equity investments, 2.1% common equity investments, and 1.3% joint ventures. Additionally, 98% of the debt investments based on par value in the company’s portfolio were at floating rates.
Blue Owl Credit Income Corp. is currently publicly offering on a continuous basis up to $13.5 billion in Class S, Class D, and Class I shares, supplementing its previous $2.5 billion offering.
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