**Blue Owl Capital Corp. Reports Second Quarter 2025 Financial Results**

Blue Owl Capital Corp. (NYSE: OBDC) has released its financial results for the second quarter of 2025, revealing a net investment income after taxes of $216.7 million, or $0.27 per share, compared to $189.1 million, or $0.31 per share, for the same period in 2024. Total investment income reached $485.8 million, up from $396.7 million in the prior year's quarter. The increase in investment income was primarily driven by higher interest income resulting from an expanded debt investment portfolio following the acquisition of Blue Owl Capital Corporation III (OBDE), although this was partially offset by a decrease in the yield of the debt investment portfolio from 11.4% to 10.1%.

The company's operating expenses for the quarter totaled $266.8 million, compared to $205.2 million in the second quarter of 2024. This increase was mainly due to higher interest expenses, management fees, and incentive fees. Interest expense rose due to an increase in daily average borrowings, while management fees increased due to higher average adjusted gross assets following the OBDE acquisition. Performance-based incentive fees also increased, reflecting the higher net investment income.

Significant operational developments during the quarter included the completion of a $409.7 million term debt securitization refinancing (CLO X Refinancing) and the issuance of $500 million in aggregate principal amount of notes that mature July 15, 2030 (2030 Notes). The company also repaid the July 2025 Notes in full, plus accrued interest. The company's investment portfolio consisted of 233 portfolio companies with an aggregate fair value of $16.87 billion. The company's net asset value per share decreased from $15.26 at the end of 2024 to $15.03 as of June 30, 2025.

Looking ahead, Blue Owl Capital Corp. declared a third quarter dividend of $0.37 per share for stockholders of record as of September 30, 2025, payable on or before October 15, 2025, and a second quarter supplemental dividend of $0.02 per share for stockholders of record as of August 29, 2025, payable on or before September 15, 2025. The company's management anticipates that its liquidity and capital resources will be sufficient to meet its short and long-term cash requirements. The company's strategy remains focused on originating and making loans to, and making debt and equity investments in, U.S. middle-market companies.

About Blue Owl Capital Corp

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