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Blue Owl Capital Corporation and Blue Owl Capital Corporation II Announce Merger Agreement
Blue Owl Capital Corporation (NYSE: OBDC) ("OBDC") and Blue Owl Capital Corporation II ("OBDC II") announced today that they have entered into a definitive merger agreement, with OBDC as the surviving company, subject to certain shareholder approvals of OBDC II and other customary closing conditions. Following the recommendation of each of their special committees, the boards of directors of both OBDC and OBDC II have unanimously approved the transaction.
About this update from Blue Owl Capital Corporation
[{"type":"text","content":"Merger of two high-quality, diversified portfolios with substantial investment overlap that enhances scale","length":106,"tagName":"p","attribs":{}},{"type":"text","content":"Will strengthen OBDC's position as the second largest publicly traded BDC by total assets1","length":99,"tagName":"p","attribs":{}},{"type":"text","content":"NEW YORK, Nov. 5, 2025 /PRNewswire/ -- Blue Owl Capital Corporation (NYSE: OBDC) ("OBDC") and Blue Owl Capital Corporation II ("OBDC II") announced today that they have entered into a definitive merger agreement, with OBDC as the surviving company, subject to certain shareholder approvals of OBDC II and other customary closing conditions. Following the recommendation of each of their special committees, the boards of directors of both OBDC and OBDC II have unanimously approved the transaction.","length":523,"tagName":"p"},{"type":"text","content":""This merger further simplifies Blue Owl's BDC complex and creates an even stronger OBDC with added scale and cost efficiencies," said Craig W. Packer, Chief Executive Officer of OBDC. "By leveraging the depth and capabilities of the Blue Owl platform, we believe this transaction will further enhance our portfolio and ability to continue to generate attractive, risk-adjusted returns for our shareholders."","length":432,"tagName":"p"},{"type":"text","content":"Key Transaction Highlights","length":26,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Reinforces Position as the Second Largest Publicly Traded BDC with Strong Combined Portfolio Metrics – OBDC's investment portfolio, on a pro forma basis, is expected to increase by $1.7 billion of investments at fair value to approximately $18.9 billion across 239 portfolio companies. OBDC's share of senior secured investments and strong credit characteristics are expected to be maintained with 80% senior secured investments and 1.3% of pro forma investments at fair value on non-accrual.","length":500,"tagName":"p"}]},{"val":[{"type":"text","content":"Acquisition of a Known, High-Quality Diversified Portfolio of Assets – OBDC and OBDC II employ a similar investment strategy, and Blue Owl Credit Advisors LLC (the "Adviser") has been allocating substantially the same investments to both funds since OBDC II's inceptio...