Submitted Notice to Blue Owl Capital Corporation II on February 17, 2026
Subsequently Submitted Notice to Blue Owl Technology Income Corp. and Blue Owl Credit Income Corp.
Tender Offers Would Provide Liquidity Solution to Investors as Industry-Wide Redemption Requests Continue to Soar
Saba Capital Management, L.P. (together with certain of its affiliates, “Saba”) and Cox Capital Partners (“Cox”) (together with Saba, the “Purchasers”) today disclosed that they provided notice to Blue Owl Capital Corporation II (“OBDC II”) on February 17, 2026 of their intention to commence a tender offer to purchase a portion of outstanding shares of OBDC II in cash. The Purchasers subsequently notified Blue Owl Technology Income Corp. (“OTIC”) and Blue Owl Credit Income Corp. (“OCIC”) of their intention to commence similar tender offers.
The Purchasers’ tender offers would provide a liquidity solution to retail investors in the wake of a significant industry-wide increase in BDC redemption requests, multiple quarters of net outflows and a rise in redemption gate provisions.
OBDC II, OTIC and OCIC are non-traded BDCs with limited liquidity. Once the 10-business day notice period concludes for each BDC, the Purchasers intend to announce the commencement of the tender offers to provide direct liquidity to investors who seek it, subject to terms and conditions and the number of shares to be purchased that will be detailed in tender offer documents, including the offer pricing and number of shares covered by each offer. The offer price is expected to be at a 20-35% discount to the most recent estimated net asset value and dividend reinvestment price, as applicable for each BDC, which will be determined when the tender offers are commenced. The Purchasers are not affiliated with OBDC II, OTIC, OCIC or their advisor.
