Blue Owl Technology Finance Corp. 8-K

What Happened

• Blue Owl Technology Finance Corp. announced the issuance and sale of $500,000,000 aggregate principal amount of 6.500% notes due October 15, 2029. The offering closed on June 5, 2026, under a Seventh Supplemental Indenture dated June 5, 2026 and an underwriting agreement dated June 2, 2026.
• The Notes are direct, general unsecured obligations of the company, pay interest at 6.500% per year semiannually (April 15 and October 15, beginning October 15, 2026), and are redeemable under specified terms before and after the Par Call Date (September 15, 2029).

Key Details

• Principal amount: $500,000,000; Coupon: 6.500% annually; Maturity: October 15, 2029; Closing: June 5, 2026.
• Redemption: Prior to Par Call Date (Sept 15, 2029) redeemable at the greater of a discounted present‑value formula (treasury rate + 40 bps) or 100% of principal; on/after Par Call Date redeemable at 100% of principal plus accrued interest.
• Use of proceeds: expected to pay down certain existing indebtedness, including borrowings under the senior secured revolving credit facility and/or the company’s 3.75% notes due June 17, 2026.
• Other terms: Indenture contains covenants tied to Investment Company Act compliance and provision of financial information if reporting status changes; change‑of‑control repurchase required if a change of control occurs and the Notes are downgraded to below investment grade by Fitch, Moody’s, S&P and Kroll.

Why It Matters

• The transaction raises $500M of unsecured financing that the company intends to use to reduce near‑term indebtedness (including a June 2026 note and revolver borrowings). That may affect upcoming liability maturities and the company’s liquidity profile.
• The Notes carry a higher coupon (6.50%) than the company’s June 2026 notes (3.75%), and are unsecured; investors should note the maturity (Oct 2029), redemption mechanics, and the limited covenants described in the Indenture when assessing credit and interest‑cost implications.