Apollo Debt Solutions BDC Reports NAV Increase to $7.3 Billion in July

Apollo Debt Solutions BDC reported a steady NAV increase to $7.3 billion in July 2024, announced special distributions, and participated in significant financing deals.

August 29, 2024

Apollo Debt Solutions BDC, a non-traded business development company sponsored by Apollo Global Management affiliates, reported another increase in its total net asset value (NAV) as of July 31, 2024. The NAV per share for its Class I, Class S, and Class D shares remained steady at $24.90, marking the third consecutive month of stability and reflecting a 0.24% increase since April 2024.

The fund's aggregate NAV rose to $7.3 billion, up nearly 5.8% from $6.9 billion at the end of June 2024. The BDC also declared special distributions totaling $0.06 per share, payable in three monthly installments to shareholders of record as of July 31, August 30, and September 30, 2024.

As of July 31, the fund managed a portfolio valued at $11.7 billion across 273 companies and 52 industries, with a focus on first lien debt and floating rate investments. The fund's net leverage ratio was 0.6x, with $1.7 billion in available secured funding.

In July, Apollo participated in significant financing deals, including a $1.85 billion term loan for R.R. Donnelley and a $1.05 billion term loan for ASC Engineered Solutions. The BDC also issued $600 million in notes due 2031, further strengthening its financial position. Apollo Debt Solutions BDC, which launched in early 2022, continues to offer up to $10 billion in shares on a continuous basis.