Blue Owl Credit Income Corp. 8-K

What Happened

• Blue Owl Credit Income Corp. filed an 8‑K on April 23, 2026 disclosing a private (unregistered) sale of 349,381 Class I common shares for $3,182,863 (sale effective April 1, 2026; number finalized April 23).
• The filing also provides an offering and portfolio status update: cumulatively, the company has issued 2,366,798,785 shares across its public offerings and private offering for total consideration of $22,284,275,895 (includes Class S, D and I shares and prior seed/affiliate capital). The company is currently offering up to $14.0 billion in shares on a continuous basis.
• The April 1, 2026 public offering price (approximate NAV + max sales load) was: Class S $9.40 (NAV $9.08), Class D $9.23 (NAV $9.09), Class I $9.11 (NAV $9.11).

Key Details

• Recent unregistered sale: 349,381 Class I shares for $3,182,863 (April 1, 2026; finalized April 23, 2026). Private Offering total (Class I): 171,075,128 shares for $1,615,759,284.
• Aggregate shares and proceeds (Offering + Private Offering): 2,366,798,785 shares; $22,284,275,895 total consideration.
• Liquidity and leverage (as of Mar 31, 2026): available liquidity ≈ $12.5 billion; average debt‑to‑equity 0.80x month‑to‑date, pro‑forma 0.88x after recent tender offer. Committed debt capacity ≈ $24.428 billion and outstanding principal ≈ $16.541 billion.
• Portfolio snapshot (as of Mar 31, 2026): debt investments in 342 companies with aggregate par ≈ $33.80 billion; 87.4% first‑lien by par; 98.2% of debt investments at floating rates. Top industry exposures by par: Healthcare providers & services ($4.85B, 14.4%), Internet software & services ($4.52B, 13.4%), Insurance (~$2.71B, 8.0%).

Why It Matters

• The announced unregistered share sale is small relative to the company’s total issued shares and proceeds, but the filing gives investors current visibility into the company’s capital‑raising activity (public and private) and share pricing policy.
• Liquidity ($12.5B), committed debt capacity ($24.43B) and measured leverage (0.80x–0.88x) are key metrics for assessing Blue Owl Credit Income’s ability to fund new investments, meet redemptions and manage debt service risk.
• The portfolio’s heavy weighting to first‑lien and floating‑rate debt means income is largely floating‑rate and credit exposure is concentrated in sectors like healthcare and internet software; this affects sensitivity to credit performance and interest‑rate moves.
• Note: figures are preliminary, unaudited and include forward‑looking statements; KPMG did not audit the preliminary data disclosed. Investors should consult the full 8‑K and company filings for comprehensive details.