Blue Owl Capital Corp 8-K

What Happened

• Blue Owl Capital Corporation announced on June 25, 2026 that it entered into a Third Amendment to its Amended and Restated Senior Secured Revolving Credit Agreement (the “Credit Agreement”) with its lenders and Truist Bank (Administrative Agent). The amendment extends the revolver availability and maturity dates, modestly reduces the committed amount, and increases the accordion capacity.
• On the same date, the company and related parties executed a Termination Letter that terminated in full the Secured Credit Facility originally entered on March 20, 2024 by OBDC III Financing III LLC (a subsidiary), repaid all outstanding obligations, released related liens, and terminated the loan documents.

Key Details

• Revolver changes (Third Amendment, effective June 25, 2026):
  • Revolver availability extended from November 2028 to June 2030.
  • Scheduled maturity date extended from November 2029 to June 2031.
  • Accordion capacity increased to permit up to $6,000,000,000 in total facility size.
  • Total committed facility amount reduced slightly from $4,025,000,000 to $4,000,000,000.
  • The amendment also resets the minimum shareholders’ equity test.
• Secured Credit Facility termination:
  • Original facility (entered March 20, 2024) provided up to $300,000,000 in revolving commitments to OBDC III Financing III LLC.
  • Termination Letter dated June 25, 2026: commitments terminated, all outstanding obligations repaid in full, liens released, and related documents terminated.

Why It Matters

• The amendment extends the company’s revolver availability and final maturity, giving Blue Owl more time and flexibility to access its primary revolving credit facility through mid‑2030/2031.
• The larger accordion (up to $6.0B) increases potential borrowing capacity if needed, while the small reduction in the current committed amount (to $4.0B) is a modest contractual change.
• Ending the separate $300M secured facility eliminates that credit line, frees the related collateral (liens released) and simplifies the company’s financing profile. Investors should note these are contractual financing changes affecting liquidity and secured obligations, not operating results.