On May 15, 2025, Blue Owl Capital Corporation (the ?Company?) and Deutsche Bank Trust Company Americas (the ?Trustee?), entered into a Ninth Supplemental Indenture (the ?Ninth Supplemental Indenture?) to the Indenture, dated as of April 10, 2019, between the Company and the Trustee (the ?Base Indenture?, and together with the Ninth Supplemental Indenture, the ?Indenture?), relating to the Company?s $500,000,000 aggregate principal amount of its 6.200% notes due 2030 (the ?Notes?). The Notes will mature on July 15, 2030, and prior to June 15, 2030 (one month prior to the maturity date of the Notes) (the ?Par Call Date?), the Company may redeem the Notes at its option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of (1) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the treasury rate plus 40 basis points less (b) interest accrued to the date of redemption, and (2) 100% of the principal amount of the Notes to be redeemed, plus, in either case, accrued and unpaid interest thereon to the redemption date. On or after the Par Call Date, the Company may redeem the Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to the redemption date.
The Notes bear interest at a rate of 6.200% per year payable semiannually on January 15 and July 15 of each year, commencing on January 15, 2026. The Notes are direct, general unsecured obligations of the Company. The Company expects to use the net proceeds of this offering to pay down its existing outstanding indebtedness, including its senior secured revolving credit facility (the ?Revolving Credit Facility?).
Amounts drawn under the Revolving Credit Facility with respect to the commitments maturing on November 22, 2029 bear interest at either (i) term SOFR plus any applicable credit adjustment spread and an applicable margin of up to 1.775% (and 2.00% with respect to the commitments maturing on August 26, 2027) per annum or (ii) the ?alternative base rate? (as defined in the agreements governing the Revolving Credit Facility) plus an applicable margin of up to 0.775% (and 1.00% with respect to the commitments maturing on August 26, 2027) per annum. The Revolving Credit Facility matures on August 26, 2027, with respect to $50 million of commitments and on November 22, 2029, with respect to the remaining commitments.
