Apollo Debt Solutions BDC
04/23/2026 | Press release | Distributed by Public on 04/23/2026 15:09
Regulation FD Disclosure (Form 8-K)
| Item 7.01. |
Regulation FD Disclosures |
April 2026 Distributions
On April 23, 2026, the Fund declared distributions for each class of its common shares of beneficial interest (the "Shares") in the amount per share set forth below:
|
Gross Distribution |
Shareholder Servicing and/or Distribution Fee |
Net Distribution | ||||||||||
|
Class I Common Shares |
$ | 0.1800 | $ | 0.0000 | $ | 0.1800 | ||||||
|
Class S Common Shares |
$ | 0.1800 | $ | 0.0167 | $ | 0.1633 | ||||||
|
Class D Common Shares |
$ | 0.1800 | $ | 0.0049 | $ | 0.1751 | ||||||
The distributions for each class of Shares are payable to shareholders of record as of the open of business on April 30, 2026 and will be paid on or around May 28, 2026. These distributions will be paid in cash or reinvested in shares of the Fund for shareholders participating in the Fund's distribution reinvestment plan.
Portfolio and Business Commentary
(All figures as of March 31, 2026, unless otherwise noted)
For the month ended March 31, 2026, the Fund's net asset value ("NAV") per share was $23.90, compared to $24.14 as of February 28, 2026. The Fund's 1-month, 3-month, year-to-date, 1-year, 3-year and annualized inception-to-date returns through March 31, 2026 for Class I Common Shares were -0.26%, 0.12%, 0.12%, 6.39%, 9.98% and 8.10%, respectively (inception date was January 7, 2022).1 As of April 23, 2026, the Fund's annualized distribution rate for Class I Common Shares, including the distribution declared on April 23, 2026, was 9.04%.2
During the quarter ended March 31, 2026, ADS originated approximately $2.4 billion of private debt investments, with a focus on large cap issuers. The Fund's new directly originated investments had a weighted average spread of 472 basis points. During the quarter ended March 31, 2026, approximately 93% of the Fund's new directly originated investments funded were first lien and approximately 76% were floating rate.
As of March 31, 2026, our portfolio was approximately $25.1 billion based on fair market value across 400 portfolio companies and 56 industries. Our portfolio consisted of approximately 99% first lien debt investments and approximately 96% floating rate debt investments based on fair market value. The weighted average earnings before interest, taxes, depreciation and amortization ("EBITDA") of our directly originated debt investments was $258 million,3 and our portfolio's overall weighted-average net loan-to-value, weighted average yield at amortized cost, weighted-average net leverage and interest coverage were 40%, 8.57%,4 4.8x, and 2.6x, respectively.5 As of March 31, 2026, there were 12 issuers on non-accrual status, which represented approximately 1.0% and 0.4% of the overall portfolio based on cost and fair market value, respectively.
2
As of March 31, 2026, the Fund's net leverage ratio was 0.69x,6 and we had approximately $5.5 billion of excess availability under our secured funding facilities.7
Select Recent Transaction Highlights
Mace Consult
In March 2026, Apollo led a £425 million term loan as part of a leveraged buyout financing of Mace Consult ("Mace Consult"), backing Goldman Sachs Asset Management's carve-out acquisition of the business from Mace Group Limited. Mace Consult is a global program and project management consultancy firm headquartered in London that is focused on delivering client-side advisory and execution services across large-scale infrastructure and real estate capital programs. ADS participated in the transaction alongside other Apollo-managed investment funds.
3
| 1. |
Past performance is not indicative of future results. Total returns for periods greater than one year are annualized. For Class S common shares of beneficial interest ("Class S Common Shares"), excluding maximum upfront placement fees, ADS generated returns of -0.34%, -0.09%, -0.09%, 5.50%, 9.05%, and 7.18% for the 1-month, 3-month, year-to-date, 1-year, 3-year and annualized inception-to-date periods through March 31, 2026 (inception date is February 1, 2022), respectively. For Class S Common Shares, including maximum upfront placement fees, ADS generated returns of -3.84%, -3.57%, -3.57%, 1.82%, 7.78%, and 6.26% for the 1-month, 3-month, year-to-date, 1-year, 3-year, and annualized inception-to-date periods through March 31, 2026 (inception date is February 1, 2022), respectively. For Class D common shares of beneficial interest ("Class D Common Shares"), excluding maximum upfront placement fees, ADS generated returns -0.28%, 0.06%, 0.06%, 6.13%, 9.71% and 10.56% for the 1-month, 3-month, year-to-date, 1-year, 3-year and annualized inception-to-date periods through March 31, 2026 (inception date is July 1, 2022), respectively. For Class D Common Shares, including maximum upfront placement fees, ADS generated returns of -1.78%, -1.43%, -1.43%, 4.55%, 9.16% and 10.12% for the 1-month, 3-month, year-to-date, 1-year, 3-year, and annualized inception-to-date periods through March 31, 2026 (inception date is July 1, 2022), respectively. Class S Common Shares and Class D Common Shares listed as including the upfront maximum placement fees reflect the returns after the maximum upfront placement fees. No upfront sales load will be paid to the Fund with respect to Class S Common Shares, Class D Common Shares or Class I Common Shares, however, if a shareholder buys Class S Common Shares or Class D Common Shares through certain financial intermediaries, they may directly charge transaction or other fees to shareholders, including upfront placement fees or brokerage commissions, in such amount as they may determine, provided that selling agents limit such charges to a 1.5% cap on NAV for Class D Common Shares and 3.5% cap on NAV for Class S Common Shares. Class I Common Shares do not have upfront placement fees. |
| 2. |
The annualized distribution rate is as of April 23, 2026 and is calculated by multiplying the sum of the month's stated base distribution per share by twelve and dividing the result by the prior month's NAV per share. The annualized distribution rate, including the distribution declared on April 23, 2026, was 8.20% for Class S Common Shares and 8.79% for Class D Common Shares. |
| 3. |
Based on latest information tracked on our portfolio companies and excludes certain portfolio companies for which these metrics are not meaningful (for instance, portfolio companies with negative EBITDA). |
| 4. |
Excludes investments on non-accrual status. |
| 5. |
Based on latest information tracked on our portfolio companies and excludes certain portfolio companies for which these metrics are not meaningful (for instance, portfolio companies with negative EBITDA). Net loan-to-value is net debt through the respective loan tranche in which the Fund has invested divided by the estimated enterprise value of the portfolio company. |
| 6. |
The Fund's net leverage ratio is defined as debt outstanding plus payable for investments purchased, less receivable for investments sold, less cash and cash equivalents, less foreign currencies, divided by net assets. |
| 7. |
Includes borrowing base availability under secured financing facilities, cash and net receivables from investments. |
Apollo Debt Solutions BDC published this content on April 23, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 23, 2026 at 21:09 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]