Blue Owl Fund Sells Its Second $400 Million Bond in a Month

A Blue Owl Capital Inc. private credit fund sold a $400 million investment-grade bond, a month after a debt sale to bond giant Pacific Investment Management Co. helped ease capital-access worries.

Blue Owl Capital Corp. priced five-year notes Monday at a spread of 2.3 percentage points over Treasuries, about 0.3 percentage point tighter than initial discussions, according to a person with knowledge of the matter who asked not to be identified as they’re not authorized to speak publicly.

The fund, known as OBDC, plans to use the proceeds to repay existing debt, including borrowings under a revolving credit facility and ...