Blue Owl Capital Corp rise on asset sale

Shares of specialty finance firm Blue Owl Capital Corp OBDC.N rise 3.1% to $11.91 premarket

Co's parent and alternative asset manager Blue Owl Capital Inc OWL.N sells $1.4 billion in assets from three of its credit funds including $400 mln from OBDC so it can return capital to investors and pay down debt

Sale is executed at 99.7% of par value

11 of 13 brokerages rate OBDC shares "buy" or higher, two "hold"; their median PT is $15- LSEG data

Up to last close, OBDC down 7.1% YTD, compared with a 0.5% rise in S&P 500 .SPX