Apollo Debt Solutions BDC Declares July 2026 Distribution, Reports Portfolio Update

What Happened
Apollo Debt Solutions BDC (ADS) filed an 8‑K on July 23, 2026 announcing a July distribution, monthly NAV and portfolio updates, and an unregistered sale of Class I common shares. The Fund declared gross distributions of $0.1800 per share for each share class (net varies by class due to servicing fees), payable to holders of record July 31, 2026 and payable around August 28, 2026. ADS also reported a June 30, 2026 NAV of $23.83 per share for all classes and detailed portfolio and leverage metrics as of June 30 and July 23, 2026. Separately, ADS sold 186,709 unregistered Class I Common Shares (finalized July 23) for $4,449,521 to feeder vehicles under a private offering exempt from registration.

Key Details

• Distribution: Gross $0.1800 per share; net per share — Class I $0.1800, Class S $0.1628 (after $0.0172 servicing fee), Class D $0.1749 (after $0.0051 fee). Record date July 31, 2026; pay date ~Aug 28, 2026.
• Unregistered sale: 186,709 Class I shares (as of July 1, finalized July 23) for $4,449,521 under Section 4(a)(2)/Reg S private offering to feeder vehicles.
• NAV & size: NAV $23.83 per share (all classes) as of June 30, 2026; aggregate NAV $14.0 billion; portfolio fair value ~$25.4 billion; principal debt outstanding ~$12.2 billion; debt-to-equity ~0.87x; net leverage ~0.76x.
• Portfolio activity & metrics: Originated ≈$1.3 billion of private debt in Q2 2026 (mostly large-cap), weighted-average spread ~498 bps; portfolio ~100% first-lien and ~96% floating-rate; 12 issuers on non-accrual (~0.8% cost, 0.4% fair value). Excess availability under secured facilities ≈$5.8 billion. Annualized distribution rate for Class I (including July distribution) 9.06% as of July 23, 2026.
• Offering status: Ongoing continuous public offering up to $10.4 billion; combined Offering and Private Offering to date totals ~686.38 million shares and ~$16.89 billion in consideration.

Why It Matters
Investors get updated cash‑distribution information, current NAV and portfolio metrics — useful for income-focused shareholders evaluating yield and credit exposure. The declared distribution and reported annualized distribution rate (9.06% for Class I) indicate the Fund’s current income policy. Portfolio data (large portfolio size, high share of first‑lien and floating‑rate loans, low non‑accrual percentage, and sizable excess liquidity) provide context on credit quality and funding flexibility. The disclosure of an unregistered private sale of Class I shares and continued public offering are relevant to understanding share issuance activity and potential dilution.