Apollo Debt Solutions enters $1.84 billion five-year revolver

By Wendy Van Sickle

Columbus, Ohio, March 15 – Apollo Debt Solutions BDC entered into a $1,835,000,000 senior secured multi-currency revolving credit facility on Friday, according to an 8-K filing with the Securities and Exchange Commission.

The scheduled maturity date is March 11, 2027.

The company may seek additional commitments for a total facility size not to exceed $2,753,000,000.

Borrowings bear interest at term SOFR plus a spread adjustment of 10 basis points plus a margin ranging from 175 bps to 187.5 bps, based on total amount of the gross borrowing base relative to the total covered debt amount.

JPMorgan Chase Bank, NA is the administrative agent and is a bookrunner and lead arranger along with ING Capital LLC, MUFG Bank, Ltd. and Truist Securities, Inc.

ING, MUFG, Truist, BNP Paribas, Royal Bank of Canada and State Street Bank and Trust Co. are the syndication agents.

The company must maintain an asset coverage ratio of at least 1.5 times at all times.

Based in New York, Apollo Debt Solutions BDC is a regulated, non-listed BDC that provides individual investors access to investments targeted by the largest institutions.

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