---
title: "Blackstone, Blue Owl Funds Upsize Bond Sales After Third-Quarter Lull in Private Credit Issuance"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296143307.md"
description: "Blue Owl Capital and Blackstone Group have upsized their investment-grade bond sales, signaling a recovery in private credit issuance after a third-quarter lull. Blue Owl Technology Finance priced $400 million in bonds, doubling its initial target, while Blackstone’s BCRED raised $750 million against a $500 million goal. These deals mark the first significant test of investor appetite for BDC debt since early Q3, despite ongoing skepticism regarding private credit valuations."
datetime: "2026-08-17T19:59:30.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296143307.md)
  - [en](https://longbridge.com/en/news/296143307.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296143307.md)
generator: "portal-rs"
---

# Blackstone, Blue Owl Funds Upsize Bond Sales After Third-Quarter Lull in Private Credit Issuance

**Blue Owl Technology Finance Corp.** (NYSE:OTF) priced $400 million of bonds Monday, double the $200 million it initially sought, in a tap of the 6.500% notes due 2029 it first sold in June, according to a prospectus supplement filed Monday.

**Blackstone Inc.**‘s (NYSE:BX) BCRED did the same, raising $750 million against a roughly $500 million target. The two upsized deals were the first real test of appetite for business development company debt since the start of the third quarter, Bloomberg reported.

Blue Owl Capital Inc., which manages Blue Owl Technology, sold $750 million in notes last week, as investor demand reached as much as $3.3 billion for the offering. RBC, SMBC, ING Groep NV, Mizuho Financial Group and Societe Generale SA managed Monday’s transaction for Blue Owl Technology.

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Earlier this year, Blue Owl Capital held a similar offering, raising $400 million from bond investors. The bonds were issued by Blue Owl Capital Corp. (OBDC) and are investment-grade rated notes. The bonds were yielding 6.4% and were set to mature in September 2028, according to an SEC filing. Pacific Investment Management Co. (PIMCO) acquired all of the $400 million bond offering shortly after.

In April, Blackstone’s BCRED raised $850 million in an investment-grade bond deal after initially looking to raise $500 million.

Business development company (BDC) equities are signaling growing investor skepticism over private credit valuations, even as BDC bonds have recovered much of their recent underperformance, a recent report from **Lotfi Karoui** at PIMCO noted.

Investors are demanding a higher risk premium to compensate for uncertainty about the value of loans held by BDCs, which finance small and midsize private U.S. companies, he added.

Earlier this month, Barings Private Credit Corp. priced a $350 million offering on Aug. 13, the second U.S. high-grade note sale by a BDC since the start of July.

*Photo: Shutterstock*

 **Read Also: BDC Stocks Signal Growing Doubts Over Private Credit Valuations**

### Related Stocks

- [BX.US](https://longbridge.com/en/quote/BX.US.md)
- [OTF.US](https://longbridge.com/en/quote/OTF.US.md)
- [OWL.US](https://longbridge.com/en/quote/OWL.US.md)

## Related News & Research

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**