Blue Owl Capital Stock Price, News & Analysis

Blue Owl Capital (NYSE: OBDC) celebrates the five-year anniversary of its investment in Wingspire Capital, a premier asset-backed direct lender. Since its launch in fall 2019, Wingspire has closed over $4.5 billion in financing commitments across its two business units: Wingspire Equipment Finance and Wingspire Corporate Finance.

OBDC plans to continue supporting Wingspire's growth through organic expansion, acquisitions, and new product offerings. Wingspire specializes in providing flexible financing solutions for middle-market businesses with bank-adjacent credit profiles. The company recently completed its inaugural equipment finance asset-backed securitization, WEF 2024-1, marking a significant milestone in the industry.

Wingspire Capital currently has over $1 billion in assets under management and offers senior secured credit facilities of up to $200 million. The company serves various industries, including automotive, business services, healthcare, and technology applications.

Blue Owl Capital (NYSE: OBDC) has announced the schedule for its third quarter 2024 financial results release and earnings call. The company will release its financial results for the quarter ended September 30, 2024, on Wednesday, November 6, 2024 after market close. A webcast and conference call to discuss these results will be held on Thursday, November 7, 2024, at 10:00 a.m. Eastern Time.

Interested parties can access the conference call via the Events section of OBDC's website or by dialing in. Domestic callers should use (877) 737-7048, while international callers can dial +1 (201) 689-8523. Participants are advised to dial in 10-15 minutes early. An archived replay will be available on the company's website for one year and via dial-in for 14 days after the call.

Wingspire Equipment Finance has successfully completed its inaugural asset-backed securitization (ABS), WEF 2024-1, raising $201 million. This marks the first large-ticket equipment ABS to receive ratings from a major rating agency for an inaugural issuance. The transaction included five classes of notes, with the top classes receiving F1+/K1+ and AAA ratings from Fitch Ratings and Kroll Bond Rating Agency. The ABS was backed by a diverse portfolio of equipment loans and leases across various industries and was more than 3x oversubscribed, indicating strong investor demand. Over 20 prominent investors participated, reflecting confidence in Wingspire's portfolio quality, management expertise, and underwriting standards.

Blue Owl Capital III (NYSE: OBDE) reported strong Q2 2024 results, with net investment income (NII) per share of $0.41, exceeding the regular dividend of $0.35 by over 15%. The company declared a Q3 2024 dividend of $0.35 per share and announced the second of five special dividends of $0.06 per share. Net Asset Value (NAV) per share increased to $15.56, up $0.28 from June 30, 2023.

OBDE's portfolio grew significantly, with new investment commitments totaling $1.0 billion across 31 new and 24 existing portfolio companies. The portfolio consisted of 85.0% first lien senior secured debt investments, with a weighted average total yield of 11.5% on accruing debt and income-producing securities.

Importantly, OBDE announced a definitive merger agreement with Blue Owl Capital (NYSE: OBDC), subject to shareholder approvals and closing conditions.

Blue Owl Capital (NYSE: OBDC) reported strong Q2 2024 results, with net investment income of $0.48 per share exceeding the regular dividend by 30%. The Board declared a total dividend of $0.43 per share, representing an 11.2% annualized yield. Net asset value (NAV) per share increased to $15.36, up $0.10 from June 2023.

OBDC announced a merger agreement with Blue Owl Capital III (NYSE: OBDE), aiming to grow its portfolio and benefit shareholders. The company's portfolio consisted of 75.4% first lien senior secured debt investments as of June 30, 2024, with a weighted average total yield of 11.9% on accruing debt and income-producing securities at fair value.

New investment commitments for Q2 2024 totaled $3.3 billion across 49 portfolio companies. The company maintained a strong liquidity position with $380 million in cash and $1.3 billion of undrawn capacity on credit facilities.

Blue Owl Capital (NYSE: OBDC) and Blue Owl Capital III (NYSE: OBDE) have announced a merger agreement, with OBDC as the surviving company. The merger will create the second largest publicly traded BDC by total assets, with $18.4 billion in total assets at fair value. Key highlights include:

1. Acquisition of a known, high-quality portfolio with 90% investment overlap
2. Increased scale and diversification, with pro forma investment portfolio of $17.7 billion across 256 companies
3. Improved secondary market liquidity and potential for greater institutional ownership
4. Well-balanced capital structure and increased access to long-term, low-cost debt capital
5. Expected to be accretive to Net Investment Income (NII) and potential for NAV per share accretion

The transaction is subject to shareholder approvals and is expected to close in Q1 2025.

Wingspire Equipment Finance has announced a $12 million equipment financing initiative for a leading Tier 1 aerospace manufacturer. This funding will support the acquisition of new CNC machines and lathes, enhancing the company's manufacturing capabilities in sheet metal fabrication, precision machining, and complex assemblies.

The financing strategy, developed in collaboration with the manufacturer and its private equity sponsor, involves financing new equipment and leveraging existing assets. This approach not only expands manufacturing capacity but also improves liquidity by providing a cash influx for higher-yielding opportunities.

Spencer Jakemer, Vice President at Wingspire Equipment Finance, highlighted the company's ability to provide tailored financial solutions for sponsor-backed, middle market companies in the aerospace industry.

Blue Owl Capital (NYSE: OBDC) will release its Q2 2024 financial results on August 7, 2024, post-market close.

OBDC has scheduled a webcast / conference call on August 8, 2024, at 10:00 a.m. ET to discuss the results.

Interested participants can access the call through OBDC's website or by dialing provided numbers.

For those unable to attend, a replay will be available on OBDC's website for one year and via dial-in for 14 days.

All participants are advised to connect 10-15 minutes before the call starts.

Wingspire Equipment Finance has extended $13 million in financing to a growing chain of over 50 fitness clubs, making it one of the top 20 largest health club operators in the U.S. The financing, structured as an operating lease, will support the acquisition of essential equipment for nine new locations. This move aims to expand the fitness company's nationwide presence and boost top-line revenue by increasing its membership base. Previously facing challenges in securing financing, the company now gains critical support from Wingspire to continue its growth trajectory.