Blue Owl Technology Finance Corp. priced a $400 million tap of its 6.5% notes due 2029, doubling its original $200 million target, while Blackstone’s BCRED raised $750 million in five-year notes on Aug. 17, nearly 50% above its initial goal of roughly $500 million. The deals were the first major bond issuances of the third quarter for business development companies and pointed to resilient investor demand even after redemption pressures and liquidity concerns hit parts of the private credit sector earlier in 2026. BCRED’s new notes priced at an approximate yield of 6.4%, with strong order books and little need for extra new-issue premium, while Blue Owl used a tap of existing debt rather than a new standalone tranche. The transactions matter because non-traded BDCs, which make senior-secured mostly floating-rate loans to middle-market companies, use public bond markets to diversify beyond bank facilities, extend maturities and lock in more predictable funding costs. BCRED’s return to market just four months after its upsized $850 million April sale also suggests demand for higher-quality private credit borrowers has remained durable.