Illiquid loans, investor demands: Blue Owl's software lending triggers another quake in private credit
CNBC
Blue Owl, a direct lender specializing in loans to the software industry, said it had sold $1.4 billion of its loans to institutional investors at 99.7% of par value.
The latest tremor in the private credit world involved a deal that should've been reassuring to markets.
Blue Owl, a direct lender specializing in loans to the software industry, said Wednesday it had sold $1.4 billion of its loans to institutional investors at 99.7% of par value.
That means sophisticated players scrutinized the loans and the companies involved and felt comfortable paying nearly full price for the debt, a message that Blue Owl co-President Craig Packer sought to convey in interviews several times this week.
FedEx posted strong fiscal third quarter results on Thursday and raised its guidance following a strong performance.
The high-dose Wegovy helped patients with obesity lose an average 20.7% of their weight after 72 weeks in a phase three trial.
Uber plans to invest up to $1.25 billion in Rivian as part of a deal to deploy up to 50,000 robotaxis in several countries through 2031.
Bob Iger is stepping aside as Josh D'Amaro, who previously served as chairman of Disney's experiences division, takes over as CEO.
Bob Iger is stepping aside as Josh D'Amaro, who previously served as chairman of Disney's experiences division, takes over as CEO.
Lululemon topped fourth-quarter estimates but gave weaker-than-expected sales and earnings forecasts for 2026.
CEO Ed Bastian told CNBC's Phil LeBeau that Delta had taken a $400 million hit so far for the fourth quarter, but that demand has been "really, really great."
While Wall Street figures have flagged risks in private credit, Apollo's Zito is among the first within private credit to candidly acknowledge weakness.
Peloton is launching commercial gym-ready Bikes and Treads, expanding into gyms globally as it seeks new growth beyond its at-home fitness business.
Paramount CEO David Ellison has said he wants to make 30 movies a year and has franchises like Godzilla-Kong, Superman and Sonic the Hedgehog to lean on.
The NFL is discussing getting rid of its 2029-30 opt-out clause in exchange for an increase on TV rights that could push CBS to pay more than $3 billion a year.
Discussions between Starbucks and the union representing about 6% of its company-owned U.S. stores hit a wall last year.
Blackstone appears to be rebalancing its real estate investment trust portfolio, selling off legacy holdings.