Blue Owl Fund Hit by Redemptions Sells $500 Million Bonds (1)

One of Blue Owl Capital Inc.’s private credit funds that capped redemptions earlier this year raised $500 million in the investment-grade bond market on Monday.

Blue Owl Credit Income Corp. priced five-year notes to yield a spread of 2.55 percentage points over Treasuries at a reoffer price of 98.771, according to a person familiar with the matter. The spread was about a quarter of a percentage point tighter than initial price discussions, the person said. Proceeds will be used to repay debt.

The $37 billion fund, known as OCIC, is among the largest vehicles in private credit. Earlier this ...