Blue Owl Capital has raised $750m through a new investment-grade bond issue, with proceeds earmarked to repay borrowings under its revolving credit facilities, according to a report by Bloomberg.
The debt offering was increased from an initial target of $500m after attracting strong demand from investors. The 10-year notes were priced to yield 2.20 percentage points above comparable US Treasuries, around 30 basis points tighter than the initial pricing guidance.
The report cites unnamed people familiar with the deal, as revealing that investor demand peaked at approximately $3.3bn, more than four times the final size of the transaction.
The notes were issued through Blue Owl Finance, with around a dozen entities, including Blue Owl Capital, providing guarantees. The proceeds will be used to reduce outstanding borrowings under revolving credit facilities.
Across its broader credit platform, three Blue Owl funds have raised a combined $1.8bn through four note offerings so far this year, underlining continued access to the debt markets despite the heightened scrutiny facing private credit.
