Blue Owl offers $300 million 10-year senior notes; price talk Treasuries plus 187.5 bps area

By Marisa Wong and Cristal Cody

Los Angeles, June 3 – Blue Owl Capital Inc.’s indirect subsidiary, Blue Owl Finance LLC, plans to price $300 million of senior notes due June 10, 2031 (/BBB/BBB), according to a market source.

Initial price talk is in the Treasuries plus 187.5 basis points area.

BofA Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the active bookrunners, with EVER and KBW as passive bookrunners.

The Rule 144A and Regulation S notes will be guaranteed by Blue Owl Capital Holdings LP, Blue Owl Capital Carry LP, Owl Rock Capital Group LLC, Dyal Capital Holdings LLC, Owl Rock Capital GP Holdings LP and Dyal GP Holdings LLC, according to a press release.

The company intends to use proceeds to repay all outstanding borrowings under its existing term loan. Any remaining proceeds will be used for general corporate purposes, including to fund future strategic acquisitions or related transactions and growth initiatives.

Blue Owl Capital is an alternative asset manager based in New York.

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