Apollo Debt Solutions BDC 8-K

What Happened

• On February 10, 2026, Warbler Funding LLC, a wholly owned subsidiary of Apollo Debt Solutions BDC, entered into Amendment No. 1 to its Loan and Security Agreement (the Secured Credit Facility) originally dated October 10, 2025.
• The amendment increases the facility's maximum commitment from $500,000,000 to $1,000,000,000 and raises the required minimum equity from $175,000,000 to $300,000,000. The agreement names Wells Fargo Bank, N.A. as administrative agent and The Bank of New York Mellon Trust Company, N.A. as collateral agent.

Key Details

• Amendment effective date: February 10, 2026.
• Maximum facility amount increased: $500,000,000 → $1,000,000,000.
• Minimum equity requirement increased: $175,000,000 → $300,000,000.
• Borrower and parties: Warbler Funding LLC (borrower); Apollo Debt Solutions BDC (collateral manager and equityholder); lenders, Wells Fargo (admin agent), BNY Mellon (collateral agent).
• The First Credit Facility Amendment is filed as Exhibit 10.1 to the Form 8-K.

Why It Matters

• The amendment materially expands Warbler Funding’s borrowing capacity (to $1B), enabling the fund to access larger secured financing if needed.
• The higher minimum equity requirement (now $300M) means the fund must maintain a larger equity cushion before drawing on the facility, which affects leverage and capital availability.
• For investors, this is a change to the fund’s financing flexibility and capital structure—important when assessing liquidity, risk profile, and potential for future deployments financed through the facility.