Blue Owl Capital Corporation III

NYSE:OBDEUnited States

May 8, 2024

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• Blue Owl Capital Corporation III Reports First Quarter Net Investment Income Per Share of $0.39 and NAV Per Share of $15.65, from 4:23PM ET on Wednesday May 08, 2024 by PR Newswire

  4:23PM ET on Wednesday May 08, 2024 by PR Newswire
  Companies Mentioned: OWL, OBDE

  Blue Owl Capital Corporation III (NYSE:OBDE, or the "Company") today announced financial results for its first quarter ended March31, 2024.

  FIRST QUARTER 2024 HIGHLIGHTS

  -- First quarter net investment income ("NII") per share of $0.39, which exceeds the first quarter regular dividend of $0.35 per share by $0.04 per share

• Blue Owl Capital Corporation III Reports First Quarter Net Investment Income Per Share of $0.39 and NAV Per Share of $15.65, from 4:22PM ET on Wednesday May 08, 2024 by Dow Jones

  4:22PM ET on Wednesday May 08, 2024 by Dow Jones
  Companies Mentioned: OWL, OBDE
  ============================= ============================= Net Realized and Change in Unrealized Gain (Loss) Net change in unrealized gain (loss): Non-controlled, non-affiliated investments 7,709 23,799 Non-controlled, affiliated investments 1,535 26 Translation of assets and liabilities in foreign currencies (277) 52 Income tax (provision) benefit 1 (1) ----------------------------- ----------------------------- Total Net Change in Unrealized Gain (Loss) 8,968 23,876 ----------------------------- ----------------------------- Net realized gain (loss): Non-controlled, non-affiliated investments (3,389) (11,498) Foreign currency transactions 207 19 ----------------------------- ----------------------------- Total Net Realized Gain (Loss) (3,182) (11,479) ----------------------------- ----------------------------- Total Net Realized and Change in Unrealized Gain (Loss) 5,786 12,397 ----------------------------- ----------------------------- Net Increase (Decrease) in Net Assets Resulting from Operations $ 54,061 $ 73,976 Earnings (Loss) Per Share - Basic and Diluted $ 0.44 $ 0.61 ============================= ============================= Weighted Average Shares Outstanding - Basic and Diluted 123,028,290 121,201,415 ============================= ============================= PORTFOLIO AND INVESTMENT ACTIVITY For the Three Months Ended March 31, -------------------------------------------------- ($ in thousands) 2024 2023 ------------------------ ------------------------ New investment commitments Gross originations $ 743,919 $ 21,814 Less: Sell downs (7,500) -- ------------------------ ------------------------ Total new investment commitments $ 736,419 $ 21,814 ------------------------ ------------------------ Principal amount of investments funded: First-lien senior secured debt investments 611,078 3,535 Second-lien senior secured debt investments -- -- Unsecured debt investments -- -- Preferred equity investments 488 12,162 Common equity investments 19,332 2,623 ------------------------ ------------------------ Total principal amount of investments funded $ 630,898 $ 18,320 ------------------------ ------------------------ Principal amount of investments sold or repaid: First-lien senior secured debt investments (56,756) (2,697) Second-lien senior secured debt investments (172,113) (4,800) Unsecured debt investments (3,796) (36) Preferred equity investments (242) -- Common equity investments -- -- ------------------------ ------------------------ Total principal amount of investments sold or repaid $ (232,907) $ (7,533) ------------------------ ------------------------ Number of new investment commitments in new portfolio companies(1) 43 1 Average new investment commitment amount $ 14,493 $ 909 Weighted average term for new debt investment commitments (in years) 5.9 4.6 Percentage of new debt investment commitments at floating rates 99.6 % 100.0 % Percentage of new debt investment commitments at fixed rates 0.4 % -- % Weighted average interest rate of new debt investment commitments(2) 10.2 % 11.5 % Weighted average spread over applicable base rate of new floating rate debt investment commitments 4.8 % 6.6 % (1) Number of new investment commitments represents commitments to a particular portfolio company. (2) For the three months ended March 31, 2024 and 2023, assumes each floating rate commitment is subject to the greater of the interest rate floor (if applicable) or 3-month SOFR, which was 5.30% and 4.91% as of March 31, 2024 and March 31, 2023, respectively.
  

• Press Release: Blue Owl Capital Corporation III Reports First Quarter Net Investment Income Per Share of $0.39 and NAV Per Share of $15.65, from 4:22PM ET on Wednesday May 08, 2024 by Dow Jones

  4:22PM ET on Wednesday May 08, 2024 by Dow Jones
  Companies Mentioned: OWL, OBDE