The non-traded BDC completed another private placement offering, with proceeds earmarked to repay existing debt, including its 3.125% notes due later this month.
The firm reported a 14% QoQ increase in private wealth inflows, supported by growth across its evergreen funds and easing redemption pressure in its credit and real estate vehicles.
The commencement date adjustment follows Blue Owl's request for a new notice, citing a material difference between the originally proposed and announced purchase amounts.
The Canadian bank now holds 10.5% of Blue Owl Credit Income Corp. as shareholders sought to withdraw 16.8% of outstanding shares in Q3.
The unsolicited bid comes just three days after Blue Owl Credit Income Corp. disclosed 16.8% in Q3 redemption requests.
OCIC and OTIC will buy back around $1.1 billion combined, leaving roughly $3.14 billion of Q3 demand unfulfilled.
The Philadelphia-based investment manager has expanded its recurring liquidity program to now include five non-traded BDCs.
EvergreenLink's Notice Board shows that investors in OTIC and OCIC sought to withdraw 38.1% and 18.8% of outstanding shares in Q2, respectively.
The proceeds will reportedly be used to repay debt following a turbulent Q1, during which investors in the $36 billion fund sought to redeem 21.9% of outstanding shares.
The announcement comes as investors in Blue Owl's non-traded BDC shunned an earlier Saba and Cox Capital joint-offer to repurchase shares at a steep discount.
