UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01. | Entry Into a Material Definitive Agreement |
On October 16, 2024, Core Income Funding V LLC (“Core Income Funding V”) executed the Second Amendment to Loan and Security Agreement (the “Amendment”), which amends that certain Loan and Security Agreement, dated as of March 9, 2023 (as amended by the First Amendment to Loan and Security Agreement, dated as of June 28, 2024, the “Loan and Security Agreement”), by and among Core Income Funding V, as borrower, Wells Fargo Bank, National Association, as administrative agent, State Street Bank and Trust Company, Alter Domus (US) LLC, as collateral custodian, and the lenders party thereto. The Amendment (i) increases the total commitment from $300,000,000 to $500,000,000, (ii) amends the Commitment Reduction Fee, (iii) amends the Applicable Margin from 2.70% to a range of 1.60% to 2.05% depending on the composition of the collateral, (iv) amends the Non-Usage Fee to a range of 0.50% to 1.25%, subject to minimum utilization during the Reinvestment Period, (v) extends the end of the reinvestment period from March 9, 2026 to October 15, 2027, and (vi) extends the maturity date from March 9, 2028 to October 16, 2029.
| Item 2.03. | Creation of a Direct Financial Obligation |
The information set forth under Item 1.01 above is incorporated by reference into this Item 2.03.
| Item 9.01. | Financial Statements and Exhibits |
(d) Exhibits
| Exhibit |
Description | |
| 10.1 | Second Amendment to Loan and Security Agreement, dated as of October 16, 2024, among Core Income Funding V LLC, as Borrower, Blue Owl Credit Income Corp., as Servicer and Equityholder, Wells Fargo Bank, National Association, as Administrative Agent, and the Lenders party thereto. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BLUE OWL CREDIT INCOME CORP. | ||||||
| Dated: October 22, 2024 | By: | /s/ Bryan Cole | ||||
| Name: | Bryan Cole | |||||
| Title: | Chief Operating Officer and Chief Financial Officer | |||||