Owl Rock Core Income Corp.

06/22/2026 | Press release | Distributed by Public on 06/22/2026 15:03

Private Placement (Form 8-K)

Item 3.02. Unregistered Sale of Equity Securities.
As of June 1, 2026, Blue Owl Credit Income Corp. (the "Company," "we" or "us") sold unregistered shares of its Class I common stock to feeder vehicles primarily created to hold the Company's Class I shares. The offer and sale of these Class I shares was exempt from the registration provisions of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) and/or Regulation S thereunder (the "Private Offering"). The following table details the shares sold:
Date of Unregistered Sale Approximate Number of Shares of Class I Common Stock Consideration
As of June 1, 2026 (number of shares finalized on June 22, 2026)
527,106 $ 4,823,019
Item 8.01. Other Events.
Distribution
On May 5, 2026, the Company's board of directors declared the following monthly distribution payable on or before July 31, 2026 and August 31, 2026 to shareholders of record as of June 30, 2026 and July 31, 2026.
Class of Common Shares
Gross Distributions
Shareholder Servicing Fee1
Net Distributions1
Class S
$ 0.070100 $ 0.006584 $ 0.063516
Class D
$ 0.070100 $ 0.001939 $ 0.068161
Class I
$ 0.070100 $ 0.000000 $ 0.070100
Status of the Offering
The Company is currently publicly offering on a continuous basis up to $14.0 billion (the "Current Offering") in shares of Class S, Class D and Class I common stock (the "Shares") and previously offered on a continuous basis up to $13.5 billion (the "Follow-On Offering") and up to $2.5 billion (the "Initial Offering" and together with the Follow-On Offering and the Current Offering, the "Offering") in Class S, Class D and Class I Shares. Additionally the Company has sold unregistered Shares as part of the Private Offering. The following table lists the Shares issued and total consideration for both the Offering and the Private Offering as of the date of this filing. The table below does not include Shares issued through the Company's distribution reinvestment plan.
Offering
Common Shares Issued
Total Consideration
Class S Shares
732,911,842 $ 6,931,356,573
Class D Shares 106,408,747 $ 993,202,421
Class I Shares 1,362,394,132 $ 12,799,015,444
Private Offering
Class I Shares
171,719,996 $ 1,621,659,824
Total Offering and Private Offering2 2,373,434,717 $ 22,345,234,262
1 Based on April 30, 2026 net asset value.
2 Includes seed capital of $1,000 contributed by Blue Owl Credit Advisors LLC (the "Adviser") in September 2020 and approximately $25.0 million in gross proceeds raised from an entity affiliated with the Adviser.
June 1, 2026 Public Offering Price
In accordance with the Company's share pricing policy, we intend to sell our shares on the first business day of each month at a net offering price that we believe reflects the net asset value per share at the end of the preceding month. The June 1, 2026 public offering price for each of our share classes is equal to such class's NAV per share as of May 31, 2026, plus applicable maximum upfront sales load. As of May 31, 2026, the Company's aggregate NAV was $19.4 billion.

Net Asset Value (per share)
Class S $9.12
Class D $9.13
Class I $9.15
Performance Update
The table below summarizes the Company's Class I common share returns for the following periods as of May 31, 2026:
1-month 3-month Year-to-Date 1-year 3-year 5-year Inception-to-Date
Total net return3 0.8 % 2.5 % 1.8 % 6.6 % 10.3 % 9.3 % 9.2 %
The Company's Class I shares have also outperformed public credit alternatives, exceeding the Morningstar LSTA U.S. Leveraged Loan Index by 325 basis points, the Bloomberg U.S. Corporate High Yield Index by 476 basis points, and the Bloomberg U.S. Aggregate Bond Index by 910 basis points since inception4.
3 Past performance is not a guarantee of future results. Returns are compounded monthly. Total return is calculated as the change in monthly NAV (assuming any dividends and distributions, net of shareholder servicing fees, are reinvested in accordance with the Company's dividend reinvestment plan), if any, divided by the beginning NAV. Returns greater than one year are annualized. Returns reflect reinvestments of distributions and the deduction of ongoing expenses that are borne by investors, such as management fees, incentive fees, servicing fees, interest expense, offering costs, professional fees, director fees and other general and administrative expenses. An investment in the Company is subject to a maximum upfront sales load (Class S: 3.5%, Class D: 1.5%, Class I: No sales load) which will reduce the amount of capital available for investment. Operating expenses may vary in the future based on the amount of capital raised, the Adviser's election to continue expense support, and other unpredictable variables. Returns since inception (ITD) are based on the inception date of the respective share class, which for Class S is April 1, 2021 and for Class D and Class I is March 1, 2021.
Class S (With Max Sales Load): (2.7)% (1-mo), (1.2)% (3-mo), (2.1)% (YTD), 2.1% (1-yr), 8.1% (3-yr), 7.6% (5-yr), 7.6% (ITD)
Class S (No Sales Load): 0.7% (1-mo), 2.2% (3-mo), 1.3% (YTD), 5.7% (1-yr), 9.4% (3-yr), 8.3% (5-yr), 8.3% (ITD)
Class D (With Max Sales Load): (0.7)% (1-mo), 0.9% (3-mo), 0.1% (YTD), 4.7% (1-yr), 9.5% (3-yr), 8.7% (5-yr), 8.6% (ITD)
Class D (No Sales Load): 0.8% (1-mo), 2.4% (3-mo), 1.6% (YTD), 6.3% (1-yr), 10.0% (3-yr), 9.0% (5-yr), 8.9% (ITD)
4 Source: Bloomberg. Indices listed do not represent benchmarks of the funds but allow for comparison of a fund's performance to an index. An investor cannot invest directly in an index. Index performance does not reflect fees and expenses. The Morningstar LSTA U.S. Leveraged Loan Index is designed to reflect the market-weighted performance of U.S. institutional leveraged loans. The Bloomberg U.S. Corporate High Yield Index measures the USD-denominated, high yield, fixed-rate corporate bond market. The Bloomberg U.S. Aggregate Bond index is a broad-based flagship benchmark that measures the investment grade, U.S. dollar denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, mortgage-backed securities, asset backed securities and commercial mortgage-backed securities.
Portfolio and Business Update
The average debt-to-equity leverage ratio during the month-to-date period ended May 31, 2026 was 0.85x. As of May 31, 2026, we had net leverage of 0.84x debt-to-equity. As of May 31, 2026, we had available liquidity of
$11.6 billion, which includes cash, liquid Level 2 assets and available debt. The table below summarizes the company's committed debt capacity and drawn amounts as of May 31, 2026.
($ in millions) Number of Facilities Aggregate Principal Committed Outstanding Principal
Revolving Credit Facility5
1 $ 3,900 $ 593
SPV Asset Facilities 11 10,300 6,106
CLOs 9 3,562 3,562
Unsecured Notes5
11 6,688 6,688
Total Debt $ 24,450 $ 16,949
Of the Company's committed debt capacity, $17.8 billion (72.6%) is in secured floating rate leverage and $6.7 billon (27.4%) is in unsecured fixed rate leverage. Of the Company's $6.7 billion unsecured fixed rate leverage, $5.8 billion is hedged by interest rate swaps for which we receive fixed rate interest and pay variable rate interest.
5 Includes unrealized gain (loss) on translation of borrowings denominated in foreign currencies and cross-currency swap.
As of May 31, 2026, we had debt investments in 330 portfolio companies with an aggregate par value of $33.8 billion. As of May 31, 2026, based on par value, our portfolio consisted of 87.3% first lien debt investments, 4.1% second lien debt investments, 1.2% unsecured debt investments, 0.4% specialty finance debt investments, 1.4% preferred equity investments, 1.1% common equity investments, 3.4% specialty finance equity investments, and 1.1% joint ventures. As of May 31, 2026, 98.2% of the debt investments based on par value in our portfolio were at floating rates. The table below describes investments by industry composition based on par value, excluding equity investments, as of May 31, 2026.
Industry Par
($ in millions) 		% of Par
Healthcare providers and services $ 5,031 14.9 %
Internet software and services 4,678 13.9 %
Insurance 2,724 8.1 %
Healthcare equipment and services 2,473 7.3 %
Financial services 2,194 6.5 %
Healthcare technology 1,852 5.5 %
Professional services 1,710 5.1 %
Food and beverage 1,576 4.7 %
Business services 1,417 4.2 %
Buildings and real estate 1,063 3.0 %
Leisure and entertainment 978 2.9 %
Chemicals 803 2.4 %
Containers and packaging 794 2.4 %
Distribution 722 2.1 %
Infrastructure and environmental services 716 2.1 %
Automotive services 651 1.9 %
Consumer products 540 1.6 %
Telecommunications 523 1.5 %
Household products 516 1.5 %
Advertising and media 501 1.5 %
Manufacturing 443 1.3 %
Aerospace and defense 334 1.0 %
Specialty retail 281 0.8 %
Human resource support services 255 0.8 %
Asset based lending and fund finance 253 0.8 %
Pharmaceuticals 246 0.7 %
Education 201 0.6 %
Transportation 188 0.6 %
Energy equipment and services 89 0.3 %
Automotive aftermarket 10 0.0 %
Total $ 33,762 100.0 %
Past performance is not necessarily indicative of future performance, and there can be no assurance that we will achieve comparable investment results, or that any targeted returns will be met.
Statements contained herein that are not historical facts are based on current expectations, estimates, projections, opinions, and/or beliefs of our management. Such statements involve known and unknown risks, uncertainties, and other factors, and undue reliance should not be placed thereon. Certain information contained herein constitutes "forward-looking statements," which can be identified by the use of terms such as "may", "will", "should", "expect", "project", "estimate", "intend", "continue", "target", or "believe" (or the negatives thereof) or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or our actual performance may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward-looking statements in making their investment decisions.
The estimates presented above are based on management's preliminary determinations only and, consequently, the data set forth in our Form 10-Q or 10-K may differ from these estimates, and any such differences may be material. In addition, the information presented above does not include all of the information regarding our financial condition and results of operations that may be important to investors. As a result, investors are cautioned not to place undue reliance on the information presented above. The information presented above is based on management's current expectations that involve substantial risk and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, such information. We assume no duty to update these preliminary estimates except as required by law.
Owl Rock Core Income Corp. published this content on June 22, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on June 22, 2026 at 21:03 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]