Announces Preliminary Q4 2023 Financial
Results
NEW
YORK, Jan. 24, 2024 /PRNewswire/ -- Blue Owl
Capital Corporation III (NYSE: OBDE or the "Company"), a leading
business development company ("BDC") focused on lending to U.S.
upper middle-market companies, has received approval from the New
York Stock Exchange ("NYSE") and is expected to commence trading
tomorrow, January 25, 2024, under the
ticker symbol "OBDE."
Preliminary Estimates of Fourth Quarter
Results
For the quarter ended December 31,
2023, the Company estimates a net investment income ("NII")
per share range of $0.56 to
$0.59, compared to $0.56 for the quarter ended September 30, 2023. The Company also estimates a
net asset value ("NAV") per share range of $15.52 to $15.58 as
of December 31, 2023, compared to
$15.40 as of September 30, 2023.
|
|
Estimates for
the
three months ended
and as of
|
|
|
December 31,
2023*
|
NII per
Share
|
|
$0.56 –
$0.59
|
NAV per
Share
|
|
$15.52 –
$15.58
|
The Company expects to release full financial results for the
fourth quarter and year ended December 31,
2023 on Wednesday, February 21,
2024 after market close. In addition to the press release,
OBDE will distribute a shareholder letter the following day.
Advisors
BofA Securities, J.P. Morgan, RBC Capital Markets, Goldman Sachs
& Co. LLC, MUFG, SMBC Nikko Securities America, Inc., and
Truist Securities are serving as lead advisors to the Company in
connection with the listing. Compass Point Research & Trading,
LLC, Deutsche Bank Securities Inc., ING, JMP Securities, A Citizens
Company, Keefe, Bruyette & Woods, Inc., KeyBanc Capital
Markets, Morgan Stanley & Co. LLC, Natixis, Oppenheimer &
Co. Inc., R. Seelaus & Co., LLC, Raymond James, Scotiabank, Societe Generale, and
Wells Fargo Securities are also acting as co-advisors. Eversheds
Sutherland (US) LLP acted as legal advisor to the Company.
ABOUT BLUE OWL CAPITAL CORPORATION III
Blue Owl Capital Corporation III (NYSE: OBDE) is a specialty
finance company focused on lending to U.S. upper middle-market
companies. As of September 30, 2023,
OBDE had investments in 146 portfolio companies with an aggregate
fair value of $3.6 billion. OBDE has
elected to be regulated as a business development company under the
Investment Company Act of 1940, as amended. OBDE is externally
managed by Blue Owl Diversified Credit Advisors, an SEC-registered
investment adviser that is an indirect affiliate of Blue Owl
Capital Inc. ("Blue Owl") (NYSE: OWL) and is a part of Blue Owl's
Credit platform.
* Company estimates for NII per share are calculated using
122,682,216 weighted average shares for the three months ended
December 31, 2023. NAV per share
estimates are calculated using 122,817,625 shares as of
December 31, 2023.
The preliminary financial estimates provided herein have been
prepared by, and are the responsibility of, the Company's
management. Neither KPMG LLP, the Company's independent registered
public accounting firm, nor any other independent accountants, have
audited, reviewed, compiled, or performed any procedures with
respect to the accompanying preliminary financial data.
These estimates are subject to the completion of the Company's
financial closing procedures, as well as the determination of the
fair value of the Company's investments as of December 31, 2023, and are not a comprehensive
statement of the Company's financial results as of December 31, 2023. Actual results may differ
materially from these estimates as a result of the completion of
the period and the Company's financial closing procedures, final
adjustments and other developments which may arise between now and
the time that the Company's financial results are finalized.
Certain information contained herein may constitute
"forward-looking statements" that involve substantial risks and
uncertainties. Such statements involve known and unknown risks,
uncertainties and other factors and undue reliance should not be
placed thereon. These forward-looking statements are not historical
facts, but rather are based on current expectations, estimates and
projections about OBDE, its current and prospective portfolio
investments, its industry, its beliefs and opinions, and its
assumptions. Words such as "anticipates," "expects," "intends,"
"plans," "will," "may," "continue," "believes," "seeks,"
"estimates," "would," "could," "should," "targets," "projects,"
"outlook," "potential," "predicts" and variations of these words
and similar expressions are intended to identify forward-looking
statements. These statements are not guarantees of future
performance and are subject to risks, uncertainties and other
factors, some of which are beyond OBDE's control and difficult to
predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements
including, without limitation, the risks, uncertainties and other
factors identified in OBDE's filings with the SEC. Investors should
not place undue reliance on these forward-looking statements, which
apply only as of the date on which OBDE makes them. OBDE does not
undertake any obligation to update or revise any forward-looking
statements or any other information contained herein, except as
required by applicable law.
INVESTOR CONTACTS
Investor Contact:
Dana
Sclafani
212-419-3000
credit-ir@blueowl.com
Media Contact:
Prosek Partners
Josh Clarkson
pro-blueowl@prosek.com
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SOURCE Blue Owl Capital Corporation III