Blue Owl Credit Income Corp. 8-K

What Happened
Blue Owl Credit Income Corp. filed an 8-K on December 23, 2025 reporting an unregistered sale of Class I common stock and providing a comprehensive update on its continuous public offering, share pricing, debt profile and portfolio composition. As of December 1, 2025 (finalized December 22, 2025), the company sold 4,359,912 unregistered Class I shares to feeder vehicles for $40,808,772. The filing also summarizes total shares issued across public offerings and the private offering and provides NAV-based offering prices effective December 1, 2025.

Key Details

• Unregistered sale: 4,359,912 Class I shares sold for $40,808,772 (as of Dec 1, 2025; number finalized Dec 22, 2025), exempt under Section 4(a)(2)/Regulation S.
• Offering totals (public Offering + Private Offering): 2,288,249,064 shares issued for $21,555,090,457 total consideration (includes Class S, D, I and private Class I).
• December 1, 2025 public offering price (approx. NAV + load): Class S NAV $9.34 (max $9.67); Class D NAV $9.35 (max $9.49); Class I NAV $9.36 (price $9.36).
• Debt & leverage: Committed debt capacity $22.455 billion; outstanding principal $15.380 billion (as of Nov 30, 2025). Average debt-to-equity leverage (month-to-date ended Nov 30, 2025) was 0.71x.
• Portfolio snapshot (as of Nov 30, 2025): Debt investments in 349 companies with $33.924 billion par value; 88.6% first‑lien by par value and 98.1% of debt at floating rates. Largest industry exposures by par: Healthcare providers (14.3%), Internet software & services (11.3%), Insurance (8.0%).

Why It Matters
This 8-K gives investors concrete, up‑to‑date information about Blue Owl Credit Income’s capital-raising and balance-sheet position. The unregistered Class I sale increases institutional feeder holdings, while the aggregate offering and private sale totals show the scale of shares issued to date ($21.6 billion). The NAV-based December 1 pricing and the company’s leverage metrics (0.71x average debt-to-equity and $15.38 billion drawn on $22.45 billion committed debt) help investors assess dilution, liquidity and risk exposure. The portfolio breakdown (size, lien position, floating-rate exposure and industry concentrations) highlights where the company’s credit risk is concentrated and that most debt is floating-rate, which may affect performance in changing interest-rate environments.