Every tender was filled, until there were no tenders

OBDC II quarterly tender offers, $ millions. Blue Owl bought every share tendered in every offer, even when requests exceeded the amount offered. After Q3 2025, there were no more tenders.

Grouped columns by quarter: amount offered vs. amount requested and repurchased, Q4 2022 to Q3 2026. Requests exceeded the offer in Q4 2022 to Q2 2023, Q1 2024, Q2 2025 and Q3 2025, and all were filled. No tenders from Q4 2025 onward.

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Quarters by tender expiration. Repurchases from the 10-K/10-Q tender tables; offer sizes from Schedule TO-I. Final amendments state the fund purchased all shares validly tendered, so requests equal repurchases. From Q4 2025, capital was returned through pro rata distributions instead ($409M through Sept. 30, 2026).

Chart: Accredited InsightSource: Blue Owl Capital Corp. II Forms 10-K and 10-Q; Schedule TO-I filings