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NYSE:OBDC 17 November 2025 - 19 November 2025

Blue Owl Capital (OWL) Scraps OBDC–OBDC II Merger as Redemption Freeze Roils the $3 Trillion Private Credit Market

Blue Owl Capital (OWL) Scraps OBDC–OBDC II Merger as Redemption Freeze Roils the $3 Trillion Private Credit Market

Blue Owl Capital has canceled the planned merger of its two private-credit funds, OBDC and OBDC II, after investor backlash and market volatility. The decision follows a freeze on redemptions at OBDC II and reports that some investors faced potential 20% paper losses if the deal proceeded. Blue Owl shares have dropped over 40% this year. OBDC II aims to reinstate its liquidity program in 2026.
19 November 2025
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Blue Owl’s BDC Shake‑Up (Nov. 17, 2025): OBDC–OBDC II Merger Puts ~20% Haircut on the Table for Retail Holders—But Double‑Digit Yields Lure Value Buyers

Blue Owl’s BDC Shake‑Up (Nov. 17, 2025): OBDC–OBDC II Merger Puts ~20% Haircut on the Table for Retail Holders—But Double‑Digit Yields Lure Value Buyers

Blue Owl Capital will merge its private OBDC II into the public Blue Owl Capital Corporation (NYSE: OBDC) in an all-stock deal expected to close Q1 2026. OBDC II investors face an implied 20% value loss, as OBDC shares trade at an $11.89 price versus a $14.89 NAV. Both boards approved the deal; OBDC II holders must still vote. Fitch placed OBDC II on Rating Watch Positive after the announcement.
17 November 2025
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