Blue Owl Capital Stock Rises Over 8% After PIMCO Buys $400 Million Bond Issue
Blue Owl Capital's stock surged more than 8% following news that PIMCO purchased a $400 million bond issue from its BDC, Blue Owl Capital Corporation. The transaction has provided relief to the struggling private credit industry. PIMCO may not be a long-term holder of the debt, with some secondary-market trades already occurring.
Topics: Blue Owl Capital Bond Purchase PIMCO Private Credit Industry