Apollo Debt Solutions unit increases commitments to $800 million

By Wendy Van Sickle

Columbus, Ohio, Dec. 12 – Cardinal Funding LLC, a wholly owned subsidiary of Apollo Debt Solutions BDC, amended its credit and security agreement with Citibank, NA as administrative agent on Dec. 9 to increase commitments to $800 million from $500 million, according to an 8-K filing with the Securities and Exchange Commission.

Advances made as private credit loans will bear interest at SOFR plus 275 basis points until the commitment termination date and SOFR plus 325 bps thereafter.

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

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