Blue Owl enters new $1.12 billion revolving credit facility due 2027

By Wendy Van Sickle

Columbus, Ohio, June 15 – Blue Owl Finance LLC entered a new $1,115,000,000 revolving credit facility scheduled to mature June 15, 2027, according to an 8-K filing with the Securities and Exchange Commission.

Blue Owl Capital Holdings LP and Blue Owl Capital Carry LP will act as parent guarantors for the revolver.

The revolver may be increased to up to $1.5 billion and replaces Blue Owl’s existing revolver.

Borrowings will bear interest at SOFR plus 125 basis points to 187.5 bps. Margins will be based on the company’s credit rating.

Joint lead arrangers and joint bookrunners are MUFG Bank, Ltd., BofA Securities, Inc., BMO Harris Bank, NA, Citibank, NA, JPMorgan Chase Bank, NA, Truist Securities, Inc., Wells Fargo Securities, LLC and Sumitomo Mitsui Banking Corp.

MUFG is the administrative agent.

Bank of America, NA is the syndication agent. BMO Harris Bank NA, Citibank, NA, JPMorgan, Wells Fargo Bank, NA, Truist Bank and Sumitomo are the co-documentation agents.

Proceeds may only be used to finance working capital needs and general corporate purposes.

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

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