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Blue Owl Capital Corp (NYSE:OBDC) announced Monday that its wholly owned subsidiary, ORCC III Financing LLC, entered into an amendment to its existing secured credit facility. According to a statement filed with the Securities and Exchange Commission, the amendment—referred to as Amendment No. 8 to the Loan and Servicing Agreement—was executed on Friday. The company, which boasts a significant 11.39% dividend yield and has raised its dividend for three consecutive years according to InvestingPro, continues to maintain strong financial management.
The amendment involves several parties, including Blue Owl Credit Advisors LLC as collateral manager, Societe Generale (OTC:SCGLY) as agent and swingline lender, State Street (NYSE:STT) Bank and Trust Company as collateral custodian and collateral agent, and the lenders involved in the facility.
The Eighth Credit Facility Amendment updates the diligence procedures for reports related to the assets held by ORCC III Financing LLC. The original secured credit facility agreement was dated July 29, 2021, and has been amended multiple times.
Blue Owl Capital Corp is listed on the New York Stock Exchange under the ticker (NYSE:OBDC). The company stated that the disclosure is a summary of the material provisions of the amendment, with the full document filed as an exhibit to the SEC report.
This information is based on a press release statement issued in conjunction with the SEC filing.
In other recent news, Citizens JMP analysts have reiterated a Market Outperform rating for Blue Owl Capital, setting a price target of $17.00. The analysts pointed to the company’s robust underlying fundamentals as a significant reason for their positive assessment. Blue Owl Capital has been recognized for its consistent strong performance across different operating environments over the past decade. Despite these achievements, the stock is still trading at a discount compared to other high-quality, externally managed business development companies. These developments reflect the analysts’ confidence in the company’s future prospects.
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