June 8 (Reuters) - A private credit fund managed by Blue Owl

Capital, which earlier this year imposed limits on

investor redemptions, has raised $500 million through an

investment-grade bond offering, Bloomberg News reported on

Monday, citing a person familiar with the matter.

Blue Owl did not immediately respond to a Reuters request

for comment.

Here are more details from the report:

* Blue Owl Credit Income Corp (OCIC) priced five-year notes

at a spread of 255 basis points over U.S. Treasuries, at a

reoffer price of 98.771, according to the report.

* The spread tightened by about 25 basis points from initial

price talk, the report added.

* The proceeds will be used to repay debt, the report said.

* OCIC is structured as a ​business development company, a

vehicle ​that ⁠raises equity and pairs it with leverage to

finance loans, mainly ⁠to ​mid-sized companies.

* Wealthy investors have sought to withdraw funds from

private credit vehicles in recent months, amid concerns about

weakening lending standards and the potential for AI to disrupt

the software sector, a key area of exposure for many such funds.

* The firm had capped withdrawals at 5% of shares at two of

its funds earlier in the year, after receiving a historic level

of redemption requests in the first quarter.

(Reporting by Pritam Biswas in Bengaluru)