07/09/2026 | Press release | Distributed by Public on 07/09/2026 14:31
| Item 8.01 |
Other Events |
On July 2, 2026, Blue Owl Technology Income Corp., a Maryland corporation (the "Company"), voluntarily reduced its aggregate committed debt capacity to $3.5 billion in order to reduce borrowing costs and align with its target leverage. These reductions did not affect the Company's available liquidity, which was $1.3 billion as of May 31, 2026. Available liquidity consists of cash, liquid Level 2 assets and available borrowing capacity, subject to applicable borrowing base limitations.
Subsequent to such reductions, the Company's committed debt capacity consists of a $1.1 billion revolving credit facility, $2.1 billion of special purpose vehicle ("SPV") asset facilities, a $270.0 million collateralized loan obligation transaction and $175.0 million of unsecured notes. As of May 31, 2026, the Company's had a net asset value of $2.9 billion, total debt outstanding of $2.3 billion and a net leverage ratio of 0.78x.
SPV Asset Facility I
On July 2, 2026, the Company, pursuant to the terms of the Credit Agreement (the "SPV Asset Facility I") among Tech Income Funding I LLC ("Tech Income Funding I"), a Delaware limited liability company and subsidiary of the Company, as borrower, the lenders from time to time parties thereto, Goldman Sachs Bank USA, as sole lead arranger, syndication agent and administrative agent, and State Street Bank and Trust Company, as collateral administrator, collateral agent and collateral custodian, reduced the commitments under the SPV Asset Facility I by $275.0 million. Following this reduction, the maximum principal amount which may be borrowed under the SPV Asset Facility I is $475.0 million. The availability of this amount is subject to a borrowing base test, which is based on the value of Tech Income Funding I's assets from time to time, an advance rate and satisfaction of certain conditions, including certain concentration limits and other portfolio tests.
SPV Asset Facility II
On July 2, 2026, the Company, pursuant to the terms of the Credit and Security Agreement (the "SPV Asset Facility II") among Tech Income Funding II LLC ("Tech Income Funding II"), a Delaware limited liability company and subsidiary of the Company, as borrower, the Company, as collateral manager and equityholder, the lenders from time to time parties thereto, Citibank, N.A., as administrative agent, and State Street Bank and Trust Company, as custodian, collateral agent and collateral administrator, reduced the commitments under the SPV Asset Facility II by $150.0 million. Following this reduction, the maximum principal amount which may be borrowed under the SPV Asset Facility II is $350.0 million, which can be drawn in multiple currencies subject to certain conditions. The availability of this amount is subject to a borrowing base test, which is based on the value of Tech Income Funding II's assets from time to time, an advance rate and concentration limits, and satisfaction of certain conditions, including collateral quality tests.
SPV Asset Facility IV
On July 2, 2026, the Company, pursuant to the terms of the Credit Agreement (the "SPV Asset Facility IV") among Tech Income Funding IV LLC ("Tech Income Funding IV"), a Delaware limited liability company and subsidiary of the Company, as borrower, the lenders referred to therein, The Bank of Nova Scotia, as administrative agent, and State Street Bank and Trust Company, as collateral agent, collateral administrator, custodian and document custodian, reduced the commitments under the SPV Asset Facility IV by $75.0 million. Following this reduction, the maximum principal amount which may be borrowed under the SPV Asset Facility IV is $675.0 million. The availability of this amount is subject to a borrowing base test, which is based on the value of Tech Income Funding IV's assets from time to time, and satisfaction of certain conditions, including coverage tests, collateral quality tests, a lender advance rate test and certain concentration limits.