Blue Owl Capital Corporation and Blue Owl Capital Corporation II Announce Termination of Merger

Core Viewpoint - The proposed merger between Blue Owl Capital Corporation (OBDC) and Blue Owl Capital Corporation II (OBDC II) has been terminated due to current market conditions, with plans to reevaluate alternatives in the future [1][2]. Group 1: Merger Termination - The Boards of both companies decided to terminate the merger to act in the best interests of shareholders, based on management's recommendation [1][2]. - The CEO of OBDC and OBDC II expressed confidence in the independent performance of both funds, highlighting their strong fundamentals [2]. Group 2: Financial Performance - OBDC II has delivered a nearly 80% cumulative net return and a 9.3% annualized net return since its inception in 2017, outperforming broadly syndicated loan and high yield indices [2]. - OBDC II has maintained a loss rate of 23 basis points since inception and a current non-accrual rate of less than 2% of the portfolio at fair value [2]. Group 3: Share Repurchase Program - OBDC's $200 million share repurchase program, announced alongside the merger, remains in place [3]. Group 4: Company Overview - As of September 30, 2025, OBDC had investments in 238 portfolio companies with an aggregate fair value of $17.1 billion [4]. - OBDC II had investments in 190 portfolio companies with an aggregate fair value of $1.7 billion as of the same date [5].