Blue Owl Capital Inc. Issues $750M 6.75% Senior Notes Due 2036

What Happened
Blue Owl Capital Inc. filed an 8-K reporting that, on August 18, 2026, its indirect subsidiary Blue Owl Finance LLC issued $750,000,000 aggregate principal amount of 6.750% Senior Notes due 2036 (the “Notes”). The Notes accrue interest at 6.750% per year, payable semi‑annually on February 18 and August 18 (first payment Feb 18, 2027), and mature on August 18, 2036. The Notes are unsecured, unsubordinated obligations of the Issuer and are fully and unconditionally guaranteed jointly and severally by multiple direct and indirect subsidiaries of Blue Owl Capital Inc. The offering was completed pursuant to the Base Indenture (April 18, 2024) and a Second Supplemental Indenture (Aug 18, 2026), and the Notes were registered on an automatically effective S-3ASR shelf registration (Reg. No. 333-279546). An underwriting agreement dated August 11, 2026 names BofA Securities, Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC as representatives; an opinion of counsel from Kirkland & Ellis LLP was also filed.

Key Details

• Offering size: $750,000,000 of 6.750% Senior Notes due August 18, 2036 (issued Aug 18, 2026).
• Interest: 6.750% per annum, paid semi‑annually (Feb 18 / Aug 18), first payment Feb 18, 2027.
• Security/guarantees: Notes are unsecured and unsubordinated; guarantees are unsecured and joint & several by specified subsidiaries.
• Redemption/repurchase: Make‑whole redemption permitted prior to May 18, 2036; on/after May 18, 2036 redeemable at 100% of principal; change‑of‑control repurchase at 101% of principal.

Why It Matters
This filing creates a $750M direct financial obligation for the issuer (and guaranteed obligations of Blue Owl subsidiaries), which will increase the company’s outstanding debt and generate ongoing interest expense at a 6.75% coupon. The notes are unsecured and include customary covenants and default provisions; they also include redemption and change‑of‑control repurchase features that could affect future cash needs. The 8‑K does not specify the use of proceeds. Investors should note the new long‑term debt and its interest costs when evaluating Blue Owl’s capital structure and future cash flow obligations.