Blue Owl Capital Corp false 0001655888 0001655888 2024-02-21 2024-02-21

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 21, 2024

 

 

BLUE OWL CAPITAL CORPORATION

(Exact name of Registrant as Specified in Its Charter)

 

 

 

Maryland   814-01190   47-5402460

(State or Other Jurisdiction

of Incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

399 Park Avenue,

37th Floor

New York, NY

   10022
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s Telephone Number, Including Area Code: (212) 419-3000

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934. Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading

Symbol(s)

  

Name of each exchange

on which registered

Common Stock, par value $0.01 per share   OBDC   The New York Stock Exchange

 

 

 

Item 2.02. Results of Operations and Financial Condition

On February 21, 2024, Blue Owl Capital Corporation (the “Company”) issued a press release announcing its financial results for the fourth quarter and fiscal year ended December 31, 2023. The press release is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.

The information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, is being furnished and shall not be deemed “filed” for any purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such Section. The information in this Current Report on Form 8-K shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

 

Exhibit Number

   

Description

99.1    Press Release, dated February 21, 2024.
104    Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

  Blue Owl Capital Corporation
February 21, 2024   By:  

/s/ Jonathan Lamm

    Name:   Jonathan Lamm
    Title:   Chief Operating Officer and Chief Financial Officer

Exhibit 99.1

Blue Owl Capital Corporation Reports Full Year Results and Fourth Quarter Net Investment Income Per Share of $0.51 and NAV Per Share of $15.45; Increases Quarterly Dividend

NEW YORK — February 21, 2024 — Blue Owl Capital Corporation (NYSE: OBDC, or the “Company”) today announced financial results for its full year and fourth quarter ended December 31, 2023.

HIGHLIGHTS FOR FULL YEAR AND QUARTER ENDED DECEMBER 31, 2023

 

  •  

Fourth quarter net investment income (“NII”) per share of $0.51, which represents the fourth consecutive quarter of record NII for the Company

 

  •  

As a result, Board declared a fourth quarter supplemental dividend of $0.08 per share

 

  •  

Total dividends for the fourth quarter were $0.43 per share, which represents an approximately 11% annualized yield based on fourth quarter net asset value (“NAV”) per share

 

  •  

Total dividends of $1.59 per share paid to shareholders in 2023, an increase of approximately 25% from the prior year

 

  •  

Delivered a total return of greater than 40%1 for 2023

 

  •  

For the first quarter 2024, increased quarterly dividend by $0.02 to $0.37 per share, marking the third dividend increase since the fourth quarter 2022

 

  •  

NAV per share increased to $15.45 compared to $15.40 as of September 30, 2023

“OBDC achieved record NII for the fourth consecutive quarter and its highest NAV per share since inception in the fourth quarter,” commented Craig W. Packer, Chief Executive Officer. “As a result of our strong earnings, OBDC earned a record 13.2%2 ROE in the fourth quarter, translating to an annual ROE of 12.7%.”

Dividend Declarations

The Company’s Board of Directors has declared a first quarter 2024 dividend of $0.37 per share for stockholders of record as of March 29, 2024, payable on or before April 15, 2024 and a fourth quarter 2023 supplemental dividend of $0.08 per share for stockholders of record as of March 1, 2024, payable on or before March 15, 2024.

PORTFOLIO AND INVESTING ACTIVITY

Full Year

For the full year ended December 31, 2023, new investment commitments totaled $2,155.1 million across 32 new portfolio companies and 34 existing portfolio companies.

This compares to $1,772.4 million for the full year ended December 31, 2022 across 52 new portfolio companies and 23 existing portfolio companies.

For the full year ended December 31, 2023, the principal amount of new investments funded was $1,680.5 million. For this period, the Company had $2,174.6 million aggregate principal amount in sales and repayments.

For the full year ended December 31, 2022, the principal amount of new investments funded was $1,177.1 million. For this period, the Company had $1,208.0 million aggregate principal amount in sales and repayments.

Fourth Quarter

For the three months ended December 31, 2023, new investment commitments totaled $1,296.9 million across 17 new portfolio companies and 14 existing portfolio companies.

This compares to $500.2 million for the three months ended September 30, 2023 across 7 new portfolio companies and 6 existing portfolio companies, and $211.2 million for the three months ended December 31, 2022 across 6 new portfolio companies and 2 existing portfolio companies.

For the three months ended December 31, 2023, the principal amount of new investments funded was $1,029.9 million. For this period, the Company had $1,142.6 million aggregate principal amount in sales and repayments.

For the three months ended September 30, 2023, the principal amount of new investments funded was $386.6 million. For this period, the Company had $389.7 million aggregate principal amount in sales and repayments.

 

 

(1)

Total return calculated using LTM dividends paid and stock appreciation divided by net asset value.

(2)

NII ROE is calculated as annualized Q4’23 net investment income divided by average Q4’23 and Q3’23 net asset value.

For the three months ended December 31, 2022, the principal amount of new investments funded was $184.1 million. For this period, the Company had $115.7 million aggregate principal amount in sales and repayments.

As of December 31, 2023 and September 30, 2023, the Company had investments in 193 and 187 portfolio companies with an aggregate fair value of $12.7 billion and $12.9 billion, respectively. As of December 31, 2023, the average investment size in each portfolio company was $65.9 million based on fair value.

As of December 31, 2023, based on fair value, our portfolio consisted of 68.1% first lien senior secured debt investments, 14.0% second lien senior secured debt investments, 2.3% unsecured debt investments, 2.7% joint ventures3, 3.4% preferred equity investments, and 9.5% common equity investments.

As of September 30, 2023, based on fair value, our portfolio consisted of 68.9% first lien senior secured debt investments, 13.8% second lien senior secured debt investments, 2.1% unsecured debt investments, 2.9% joint ventures3, 3.1% preferred equity investments, and 9.2% common equity investments.

As of December 31, 2023 and September 30, 2023, approximately 82.1% and 82.7% of the portfolio was invested in secured debt, respectively. As of December 31, 2023, 97.4% of our debt investments based on fair value in our portfolio were at floating rates.

As of December 31, 2023 and September 30, 2023, the weighted average total yield of accruing debt and income-producing securities at fair value (which includes interest income and amortization of fees and discounts) was 12.4% and 12.3%, respectively, and the weighted average total yield of accruing debt and income-producing securities at amortized cost (which includes interest income and amortization of fees and discounts) was 12.5% and 12.4%, respectively.

As of December 31, 2023, 4 portfolio companies with an aggregate fair value of $116.6 million were on non-accrual status, representing 1.1% of the total fair value of the debt portfolio.

 

 

(3)

This was disclosed as “Investment funds and vehicles” prior to Q2 2023.

RESULTS OF OPERATIONS FOR THE FULL YEAR AND QUARTER ENDED DECEMBER 31, 2023

Investment Income

Investment income increased to $1.6 billion for the full year ended December 31, 2023 from $1.2 billion for the full year ended December 31, 2022, primarily due to an increase in our portfolio’s weighted average yield, partially offset by a decrease in our debt portfolio at par. Included in investment income is dividend income which increased from period to period. Also included in investment income are other fees such as prepayment fees and accelerated amortization of upfront fees from unscheduled paydowns. Period over period, income generated from these fees increased due to an increase in repayment activity for the period. Other income decreased period over period due to a decrease in incremental fee income, which are fees that are generally available to us as a result of closing investments and normally paid at the time of closing. We expect that investment income will vary based on a variety of factors including the pace of our originations and repayments.

Investment income increased to $411.2 million for the three months ended December 31, 2023 from $350.5 million for the three months ended December 31, 2022.

Expenses

Total expenses increased to $815.7 million for the full year ended December 31, 2023 from $639.5 million for the full year ended December 31, 2022, primarily due to an increase in interest expense and incentive fees. The increase in interest expense was driven by an increase in average daily borrowings coupled with an increase in the average interest rate. As a percentage of total assets, professional fees, directors’ fees and other general and administrative expenses remained relatively consistent period over period.

Total expenses increased to $207.9 million for the three months ended December 31, 2023 from $186.2 million for the three months ended December 31, 2022.

Liquidity and Capital Resources

As of December 31, 2023, we had $659.7 million in cash and restricted cash, $7.2 billion in total principal value of debt outstanding, and $1.4 billion of undrawn capacity on our credit facilities. The Company’s weighted average interest rate on debt outstanding was 5.6% and 5.6% for the three months ended December 31, 2023 and September 30, 2023, respectively. Ending net debt to equity was 1.09x and 1.13x as of December 31, 2023 and September 30, 2023, respectively.

CONFERENCE CALL AND WEBCAST INFORMATION

Conference Call Information:

The conference call will be broadcast live on February 22, 2024 at 10:00 a.m. Eastern Time on the Events section of OBDC’s website at www.BlueOwlCapitalCorporation.com. Please visit the website to test your connection before the webcast.

Participants are also invited to access the conference call by dialing one of the following numbers:

 

  •  

Domestic: (877) 737-7048

 

  •  

International: +1 (201) 689-8523

All callers will need to reference “Blue Owl Capital Corporation” once connected with the operator. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected.

Replay Information:

An archived replay will be available for 14 days via a webcast link located on the Events section of OBDC’s website, and via the dial-in numbers listed below:

 

  •  

Domestic: (877) 660-6853

 

  •  

International: +1 (201) 612-7415

 

  •  

Conference ID: 13743048

ABOUT BLUE OWL CAPITAL CORPORATION

Blue Owl Capital Corporation (NYSE: OBDC) is a specialty finance company focused on lending to U.S. middle-market companies. As of December 31, 2023, OBDC had investments in 193 portfolio companies with an aggregate fair value of $12.7 billion. OBDC has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. OBDC is externally managed by Blue Owl Credit Advisors LLC, an SEC-registered investment adviser that is an indirect affiliate of Blue Owl Capital Inc. (“Blue Owl”) (NYSE: OWL) and is a part of Blue Owl’s Credit platform.

Certain information contained herein may constitute “forward-looking statements” that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about OBDC, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond OBDC’s control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in OBDC’s filings with the SEC. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which OBDC makes them. OBDC does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.

INVESTOR CONTACTS

Investor Contact:

Dana Sclafani

212-419-3000

credit-ir@blueowl.com

Media Contact:

Prosek Partners

Josh Clarkson

pro-blueowl@prosek.com

FINANCIAL HIGHLIGHTS

 

     For the three months ended  
($ in thousands, except per share amounts)    December 31,
2023		     September 30,
2023		     December 31,
2022		  

Investments at Fair Value

    $ 12,713,348     $ 12,896,158     $ 13,010,345  

Total Assets

    $ 13,511,396     $ 13,461,820     $ 13,584,853  

Net Asset Value Per Share

    $ 15.45     $ 15.40     $ 14.99  

Investment Income

    $ 411,227     $ 399,022     $ 350,506  

Net Investment Income

    $ 199,021     $ 190,053     $ 162,464  

Net Income

    $ 188,969     $ 206,938     $ 191,888  

Net Investment Income Per Share

    $ 0.51     $ 0.49     $ 0.41  

Net Realized and Unrealized Gains (and Losses) Per Share

    $ (0.03 )    $ 0.04     $ 0.07  

Net Income Per Share

    $ 0.48     $ 0.53     $ 0.49  

Distributions Declared from Net Investment Income Per Share

    $ 0.35     $ 0.33     $ 0.33  

Supplemental Distributions Declared from Net Investment Income Per Share

    $ 0.08     $ 0.08     $ 0.04  

Weighted Average Yield of Accruing Debt and Income Producing Securities at Fair Value

      12.4 %      12.3 %      11.5 % 

Weighted Average Yield of Accruing Debt and Income Producing Securities at Amortized Cost

      12.5 %      12.4 %      11.5 % 

Percentage of Debt Investment Commitments at Floating Rates

      97.4 %      97.7 %      98.3 % 

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

(Amounts in thousands, except share and per share amounts)

 

     December 31, 2023      December 31, 2022  

Assets

      

Investments at fair value

      

Non-controlled, non-affiliated investments (amortized cost of $11,271,962 and $12,133,062, respectively)

    $ 11,264,956      $ 12,010,369  

Non-controlled, affiliated investments (amortized cost of $19,004 and $6,224, respectively)

      19,988        6,175  

Controlled, affiliated investments (amortized cost of $1,341,236, and $906,846, respectively)

      1,428,404        993,801  
  

 

 

     

 

 

  

Total investments at fair value (amortized cost of $12,632,202 and $13,046,132, respectively)

      12,713,348        13,010,345  

Cash (restricted cash of $87,067 and $96,420, respectively)

      658,702        444,278  

Foreign cash (cost of $946 and $809, respectively)

      956        809  

Interest receivable

      112,260        108,085  

Receivable from a controlled affiliate

      22,978        17,709  

Prepaid expenses and other assets

      3,152        3,627  
  

 

 

     

 

 

  

Total Assets

    $ 13,511,396      $ 13,584,853  
  

 

 

     

 

 

  

Liabilities

      

Debt (net of unamortized debt issuance costs of $81,492 and $95,647, respectively)

    $ 7,077,088      $ 7,281,744  

Distribution payable

      136,407        129,517  

Management fee payable

      47,711        47,583  

Incentive fee payable

      42,217        34,462  

Payables to affiliates

      3,835        6,351  

Accrued expenses and other liabilities

      182,745        202,793  
  

 

 

     

 

 

  

Total Liabilities

      7,490,003        7,702,450  
  

 

 

     

 

 

  

Commitments and contingencies (Note 7)

      

Net Assets

      

Common shares $0.01 par value, 500,000,000 shares authorized; 389,732,868 and 392,476,687 shares issued and outstanding, respectively

      3,897        3,925  

Additional paid-in-capital

      5,924,002        5,970,674  

Accumulated undistributed (overdistributed) earnings

      93,494        (92,196 ) 
  

 

 

     

 

 

  

Total Net Assets

      6,021,393        5,882,403  
  

 

 

     

 

 

  

Total Liabilities and Net Assets

    $ 13,511,396      $ 13,584,853  
  

 

 

     

 

 

  

Net Asset Value Per Share

    $ 15.45      $ 14.99  

CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands, except share amounts)

 

     For the Year Ended December 31,  
     2023     2022     2021  

Investment Income

       

Investment income from non-controlled, non-affiliated investments:

       

Interest income

    $ 1,209,536     $ 931,870     $ 887,753  

Payment-in-kind (“PIK”) interest income

      169,763       113,256       53,185  

Dividend income

      72,936       52,422       28,052  

Other income

      14,755       18,514       25,845  
  

 

 

    

 

 

    

 

 

  

Total investment income from non-controlled, non-affiliated investments

      1,466,990       1,116,062       994,835  
  

 

 

    

 

 

    

 

 

  

Investment income from non-controlled, affiliated investments:

       

Dividend income

      252       —        —   
  

 

 

    

 

 

    

 

 

  

Total investment income from non-controlled, affiliated investments:

      252       —        —   
  

 

 

    

 

 

    

 

 

  

Investment income from controlled, affiliated investments:

       

Interest income

      20,174       8,206       5,531  

Payment-in-kind (“PIK”) interest income

      1,934       —        —   

Dividend income

      91,802       77,047       20,394  

Other Income

      942       689       643  
  

 

 

    

 

 

    

 

 

  

Total investment income from controlled, affiliated investments

      114,852       85,942       26,568  
  

 

 

    

 

 

    

 

 

  

Total Investment Income

      1,582,094       1,202,004       1,021,403  
  

 

 

    

 

 

    

 

 

  

Expenses

       

Interest expense

      436,306       307,539       219,132  

Management fees

      191,622       188,755       178,472  

Performance based incentive fees

      159,857       118,091       103,968  

Professional fees

      15,532       14,709       15,071  

Directors’ fees

      1,280       1,092       1,021  

Other general and administrative

      11,127       9,290       9,593  

Total Operating Expenses

      815,724       639,476       527,257  
  

 

 

    

 

 

    

 

 

  

Net Investment Income (Loss) Before Taxes

      766,370       562,528       494,146  
  

 

 

    

 

 

    

 

 

  

Income tax expense (benefit)

      12,759       5,810       4,009  
  

 

 

    

 

 

    

 

 

  

Net Investment Income (Loss) After Taxes

    $ 753,611     $ 556,718     $ 490,137  
  

 

 

    

 

 

    

 

 

  

Net Realized and Change in Unrealized Gain (Loss)

       

Net change in unrealized gain (loss):

       

Non-controlled, non-affiliated investments

    $ 90,497     $ (133,980 )    $ 148,300  

Non-controlled, affiliated investments

      1,033       (49 )      —   

Controlled, affiliated investments

      213       45,602       44,081  

Translation of assets and liabilities in foreign currencies

      5,808       (2,118 )      (3,953 ) 

Income tax (provision) benefit

      (4,605 )      (3,964 )      (8,604 ) 
  

 

 

    

 

 

    

 

 

  

Total Net Change in Unrealized Gain (Loss)

      92,946       (94,509 )      179,824  
  

 

 

    

 

 

    

 

 

  

Net realized gain (loss):

       

Non-controlled, non-affiliated investments

      (52,003 )      5,171       (46,332 ) 

Foreign currency transactions

      (1,242 )      (1,025 )      1,253  
  

 

 

    

 

 

    

 

 

  

Total Net Realized Gain (Loss)

      (53,245 )      4,146       (45,079 ) 
  

 

 

    

 

 

    

 

 

  

Total Net Realized and Change in Unrealized Gain (Loss)

      39,701       (90,363 )      134,745  
  

 

 

    

 

 

    

 

 

  

Net Increase (Decrease) in Net Assets Resulting from Operations

    $ 793,312     $ 466,355     $ 624,882  

Earnings Per Share—Basic and Diluted

    $ 2.03     $ 1.18     $ 1.59  
  

 

 

    

 

 

    

 

 

  

Weighted Average Shares Outstanding—Basic and Diluted

      390,104,585       394,006,852       392,297,907  
  

 

 

    

 

 

    

 

 

  

PORTFOLIO AND INVESTMENT ACTIVITY

 

     For the Year Ended December 31,  
($ in thousands)    2023     2022     2021  

New investment commitments

       

Gross originations

    $ 2,165,911     $ 1,997,087     $ 7,456,901  

Less: Sell downs

      (10,803 )      (224,665 )      (632,072 ) 
  

 

 

    

 

 

    

 

 

  

Total new investment commitments 

    $ 2,155,108     $ 1,772,422     $ 6,824,829  
  

 

 

    

 

 

    

 

 

  

Principal amount of investments funded:

       

First-lien senior secured debt investments

    $ 1,523,503     $ 788,717     $ 4,369,794  

Second-lien senior secured debt investments

      —        6,883       846,299  

Unsecured debt investments

      —        90,451       132,288  

Preferred equity investments

      36,377       90,110       238,367  

Common equity investments

      86,457       131,777       113,780  

Joint Ventures(4)

      34,125       69,125       141,876  
  

 

 

    

 

 

    

 

 

  

Total principal amount of investments funded

    $ 1,680,462     $ 1,177,064     $ 5,842,404  
  

 

 

    

 

 

    

 

 

  

Principal amount of investments sold or repaid:

       

First-lien senior secured debt investments

    $ (2,069,540 )    $ (1,116,583 )    $ (3,343,381 ) 

Second-lien senior secured debt investments

      (97,713 )      (29,800 )      (910,582 ) 

Unsecured debt investments

      (193 )      (31,427 )      —   

Preferred equity investments

      (6,952 )      (22,843 )      —   

Common equity investments

      (195 )      (7,350 )      (4,827 ) 

Joint Ventures(4)

      —        —        —   
  

 

 

    

 

 

    

 

 

  

Total principal amount of investments sold or repaid

    $ (2,174,593 )    $ (1,208,003 )    $ (4,258,790 ) 
  

 

 

    

 

 

    

 

 

  

Number of new investment commitments in new portfolio companies(1)

      32       52       67  

Average new investment commitment amount

    $ 53,397     $ 22,757     $ 82,831  

Weighted average term for new debt investment commitments (in years)

      5.6       5.6       6.3  

Percentage of new debt investment commitments at floating rates

      96.2 %      95.1 %      98.1 % 

Percentage of new debt investment commitments at fixed rates

      3.8 %      4.9 %      1.9 % 

Weighted average interest rate of new debt investment commitments(2)(3)

      11.7 %      10.4 %      7.3 % 

Weighted average spread over applicable base rate of new floating rate debt investment commitments

      6.3 %      6.9 %      6.4 % 

 

(1)

Number of new investment commitments represents commitments to a particular portfolio company.

(2)

For the year ended December 31, 2023 and December 31, 2022, assumes each floating rate commitment is subject to the greater of the interest rate floor (if applicable) or 3-month SOFR, which was 5.33% and 4.59% as of December 31, 2023 and December 31, 2022, respectively.

(3)

For the year ended December 31, 2021, assumes each floating rate commitment is subject to the greater of the interest rate floor (if applicable) or 3-month LIBOR, which was 0.21% as of December 31, 2021.

(4)

This was disclosed as “Investment funds and vehicles” as of December 31, 2022 and 2021.

v3.24.0.1
Document and Entity Information
Feb. 21, 2024
Cover [Abstract]  
Entity Registrant Name Blue Owl Capital Corp
Amendment Flag false
Entity Central Index Key 0001655888
Document Type 8-K
Document Period End Date Feb. 21, 2024
Entity Incorporation State Country Code MD
Entity File Number 814-01190
Entity Tax Identification Number 47-5402460
Entity Address, Address Line One 399 Park Avenue
Entity Address, Address Line Two 37th Floor
Entity Address, City or Town New York
Entity Address, State or Province NY
Entity Address, Postal Zip Code 10022
City Area Code (212)
Local Phone Number 419-3000
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Security 12b Title Common Stock, par value $0.01 per share
Trading Symbol OBDC
Security Exchange Name NYSE
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