Blue Owl Capital to price benchmark offering of five-year notes

By Marisa Wong

Los Angeles, Jan. 17 – Blue Owl Capital Corp. plans to price a benchmark offering of fixed-rate senior notes due March 15, 2029 (Baa3/BBB-/BBB-/Kroll: BBB), according to 424B2 and 497AD filings with the Securities and Exchange Commission.

Initial price talk is in the Treasuries plus 250 basis points area.

The notes will feature a make-whole call, followed by a par call one month prior to maturity.

The notes will also be putable at par if a change-of-control repurchase event occurs.

Wells Fargo Securities LLC (billing and delivery), BofA Securities, Inc., ING Financial Markets LLC, RBC Capital Markets, LLC and SMBC Nikko Securities America, Inc. are the bookrunners.

Deutsche Bank Trust Co. Americas is the trustee.

Eversheds Sutherland (US) LLP will act as counsel to the issuer. Kirkland & Ellis LLP will be counsel to the underwriters.

Proceeds will be used to refinance existing debt.

The SEC-registered notes (Cusip: 69121KAH7) are expected to settle on Jan. 22.

Blue Owl is an externally managed, closed-end management investment company based in New York.

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