Blue Owl Credit Income Corp. 8-K

What Happened

• Blue Owl Credit Income Corp. announced that on December 31, 2025 its newly formed subsidiary, Core Income Funding X LLC, entered into a Revolving Credit and Security Agreement (the “Secured Credit Facility”) with Société Générale (administrative agent and swingline lender), State Street (collateral agent/administrator/custodian) and participating lenders. The initial maximum principal amount available is $750 million, subject to a borrowing base and other customary tests and conditions.

Key Details

• Facility size and term: up to $750 million maximum principal; revolving and term loans available for up to 3 years after the closing date; maturity (stated maturity) is December 31, 2035.
• Pricing and fees: interest at a reference rate (initially SOFR) plus a margin of 1.75% per year; undrawn fee of 0.50% per year (rises to 1.00% on certain undrawn amounts if drawn <50% after nine months); additional agent fees payable to Société Générale.
• Security and tests: secured by a first-priority security interest in Core Income Funding X’s assets and related payments; availability depends on borrowing base, overcollateralization, coverage tests, collateral quality tests and concentration limits.
• Relationship to the Company: Blue Owl expects to sell/contribute assets to Core Income Funding X under a Sale and Contribution Agreement (no gain/loss recognized on contribution). The Company retains a residual interest through its ownership of the subsidiary. Borrowings of the subsidiary are treated as the Company’s borrowings for 1940 Act asset coverage purposes.

Why It Matters

• This facility gives Blue Owl Credit Income Corp. additional financing capacity and liquidity to finance origination and acquisition of eligible assets (including purchases from the Company), supporting growth of its asset platform.
• The loans are secured by the subsidiary’s assets, so those pledged assets won’t be available to meet the Company’s other creditors, but regulatory treatment under the 1940 Act means these borrowings count toward the Company’s asset-coverage calculations.
• Investors should note the size, maturity, pricing, and covenant structure (including collateral and coverage tests) as they affect liquidity flexibility and regulatory compliance; material agreements are filed as exhibits to the 8-K.