Apollo Debt Solutions BDC Amends Revolving Credit Facility, Upsizes

What Happened

• On August 12, 2026, Apollo Debt Solutions BDC announced an amendment and restatement of its senior secured, multi‑currency revolving credit facility with JPMorgan Chase Bank, N.A. as Administrative Agent and the lenders party thereto. The Facility’s final maturity was extended to August 12, 2031 and the total commitment was increased.

Key Details

• Final maturity extended from August 12, 2030 to August 12, 2031.
• Total facility amount increased from $3.828 billion to $3.990 billion.
• Accordion (expansion) capacity raised from $5.180 billion to $5.985 billion.
• Removal of the credit spread adjustment on Dollar‑denominated borrowings.
• Minimum shareholders’ equity test modified to allow a 25% deduction for any equity repurchases made on or after July 1, 2026 (removing the previous quarterly deduction limitation).
• Borrowings remain subject to a Borrowing Base with asset‑specific advance rates and to leverage limits under the Investment Company Act of 1940.

Why It Matters

• The amendment increases liquidity capacity and extends the company’s borrowing runway by one year, which can support operations, investments, or portfolio activity. Changes to buyback treatment and removal of the Dollar credit spread adjustment affect the company’s flexibility and potential cost of borrowing. Investors should note the continued Borrowing Base and regulatory leverage constraints remain in place, limiting how much the company can draw against the facility.