Blue Owl Credit Income Corp. issues $500M of 5.900% notes due 2028

Blue Owl Credit Income Corp.

Issued $500M aggregate principal of 5.900% notes due May 23, 2028.
Net proceeds of ~$491.5M after fees and expenses of ~$1.5M.
Proceeds used to pay down outstanding under senior secured revolver (had $1.4B outstanding as of Mar 31, 2025).
Notes are unsecured, rank pari passu with existing $5.6B unsecured notes, effectively subordinated to $3.4B SPV and $2.4B CLO debt.
Registration rights agreement requires exchange offer by May 23, 2026; failure triggers additional interest.

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