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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.
