Blue Owl unit ups commitments of secured revolver to $1 billion

By Mary-Katherine Stinson

Lexington, Ky., Nov. 27 – Blue Owl Credit Income Corp. subsidiary Core Income Funding III LLC entered into an amendment on Nov. 21 to its senior secured revolving credit facility dated March 24, 2022, lifting the commitments under the facility to $1 billion from $750 million, according to an 8-K filing with the Securities and Exchange Commission.

The first amendment also adjusted the applicable margin to a range of 175 basis points to 260 bps, depending on the collateral’s composition. Previously, the margin was 160 bps to 210 bps.

Lastly, the availability period was extended to Nov. 21, 2026 from March 24, 2025 and the maturity date was extended to Nov. 21, 2028 from March 24, 2027.

Blue Owl Credit Advisors LLC is the servicer, Bank of America, NA is the administrative agent, State Street Bank and Trust Co. is the collateral agent, Alter Domus (US) LLC is the collateral custodian and Bank of America, NA is the sole lead arranger and book manager.

Blue Owl is a non-traded business development company based in New York City.

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