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 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.
The firm has adhered to a 5% cap on two private debt BDCs after receiving repurchase requests totaling 22% and 41% of outstanding shares.
The $22 billion Blue Owl Credit Income Corp. was recently the target of a tender offer from Saba Capital and Cox Capital at a steep discount.
"[our] objective is consistent with our broader mandate: providing institutional quality liquidity solutions to an underserved retail and mass affluent market," CEO John Cox told EvergreenLink.
