Apollo Debt Solutions BDC Announces August Distribution, Private Share Sale

What Happened

• Apollo Debt Solutions BDC (ADS) filed an 8-K on Aug. 19, 2026 announcing a declared distribution and reporting a recent unregistered private sale of Class I common shares to feeder vehicles. The Fund declared a gross distribution of $0.1800 per share for each share class (net amounts differ by class due to servicing fees) payable to holders of record as of Aug. 31, 2026, with payment on or about Sept. 29, 2026 (cash or reinvestment).
• The Fund reported an unregistered sale (exempt under Section 4(a)(2) and/or Regulation S) of Class I Common Shares as of Aug. 3, 2026 (finalized Aug. 19): 337,710 shares for $8,047,437 to feeder vehicles. ADS also disclosed cumulative Offering and Private Offering activity (total consideration across offerings about $16.93 billion as of the filing).
• ADS provided portfolio and NAV updates as of July 31, 2026: NAV per share $23.83, aggregate NAV $14.1 billion, fair value of portfolio ≈ $25.7 billion, principal debt outstanding ≈ $12.2 billion, net leverage ratio ~0.82x, and about $4.5 billion of excess availability under secured funding facilities.

Key Details

• Distribution: Gross $0.1800 per share for Class I, S and D; net per-share: Class I $0.1800, Class S $0.1628 (after $0.0172 fee), Class D $0.1749 (after $0.0051 fee). Record date Aug. 31, 2026; pay date ~Sept. 29, 2026.
• Private sale (unregistered): 337,710 Class I shares for $8,047,437 (Aug. 3, 2026; final number confirmed Aug. 19); sold to feeder vehicles, exempt from registration.
• Portfolio & NAV: NAV $23.83 per share (7/31/2026); portfolio fair value ≈ $25.7B across 394 companies; ~99% first‑lien and ~96% floating‑rate by fair value. Weighted-average yield at amortized cost ~8.63%.
• Leverage & liquidity: Debt-to-equity ≈ 0.87x, net leverage ~0.82x, and ~ $4.5B available under secured facilities. Annualized distribution rate for Class I (including this distribution) reported at 9.06% as of Aug. 19, 2026.

Why It Matters

• Income: The declared $0.18/share distribution and a reported ~9.06% annualized distribution rate for Class I are key for dividend-focused investors evaluating current yield.
• Capital & liquidity: The unregistered Class I share sale and the ongoing Offering (ADS is offering up to $10.4B cumulatively) show continued capital raising; meaningful liquidity (≈ $4.5B excess availability) and modest net leverage (~0.82x) are relevant to the Fund’s ability to fund investments and distributions.
• Portfolio profile: High concentration in first‑lien and floating‑rate debt and an average yield around 8.6% describe the Fund’s risk/return mix; NAV stability ($23.83 unchanged month-to-month) and portfolio scale ($25.7B) provide context for performance and exposure.
• Transparency: ADS will expand monthly supplemental disclosures (posted within ~20 business days after month-end), which gives investors more regular visibility into holdings and key metrics.