Apollo Debt Solutions BDC Prices $300M in Notes, Expanding Series to $800M

Apollo Debt Solutions BDC priced $300 million in senior unsecured notes this week, bringing total outstanding principal on the 6.550% note series due 2032 to $800 million, the company disclosed.

The nontraded business development company, sponsored by affiliates of Apollo Global Management, issued the new notes as “Additional Notes” under the same indenture governing a $500 million tranche issued in January 2025. The notes carry the same coupon — 6.550% per year, payable semi-annually — and the same March 15, 2032, maturity date. They were issued at a price of 100.604% of face value, resulting in an effective yield to maturity of 6.421%. Net proceeds to the fund, after deducting the initial purchaser discount and estimated offering expenses, were approximately $298.7 million.

The fund said it expects to use the proceeds for general corporate purposes or to repay borrowings under its revolving credit facility.

Goldman Sachs & Co. LLC, ING Financial Markets LLC, Truist Securities Inc., and Wells Fargo Securities LLC served as representatives of the initial purchasers.

The capital markets transaction comes as Apollo Debt Solutions BDC continues to manage elevated redemption demand. As AltsWire previously reported, the fund fulfilled approximately 45% of first-quarter redemption requests after withdrawal demand reached 11.2% of outstanding shares — more than double the fund’s 5% quarterly cap. Aggregate NAV stood at approximately $14.4 billion as of March 31, down from $15.1 billion at the end of February.

The unsecured note structure gives the fund long-term, fixed-rate capital without drawing on its revolving credit facility, which AltsWire reported was expanded to $3.453 billion in August 2025. The fund has added to its debt financing through term debt securitizations, including a $754.7 million CLO completed with Morgan Stanley in October 2024 and a $496 million securitization closed in June 2025.

Apollo Debt Solutions BDC originated approximately $5.1 billion in private debt investments in the first half of 2025 and reported a portfolio valued at approximately $18.5 billion as of April 30, 2025.

Apollo Debt Solutions BDC launched its offering in early 2022 and is currently publicly offering up to $10 billion in shares on a continuous basis. The fund is advised by Apollo Credit Management LLC, a subsidiary of Apollo Global Management.

Visit the AltsWire directory page.