Blue Owl BDC Q2 Key Metrics: Activity subdued as refis 'grind to a halt'

Blue Owl Capital Corporation (NYSE: OBDC) reported a decline in new investment activity in Q2, which it attributed to depressed new deal activity and a marked drop in refinancing transactions. “As much as 50%, or even 75%, [of activity] in any given quarter came from refinancing or extension activity from existing portfolio companies,” said OBDC President Logan Nicholson on an Aug. 6 earnings call. “In a spread-widening environment like this, you see that activity grind to a halt.” OBDC’s portfo