Apollo Debt Solutions BDC, a non-traded perpetual-life business development company sponsored by affiliates of Apollo Global Management, recently announced that it has completed a $754.7 million term debt securitization with Morgan Stanley & Co. LLC, who will serve as the initial purchaser and placement agent. Apollo Global Securities LLC will serve as the co-placement agent.
The debt securitization includes a variety of notes and is backed by a diversified portfolio of broadly syndicated commercial loans. The notes are scheduled to mature on Oct. 15, 2036, but may be redeemed on any business day after Oct. 15, 2026.
Term debt securitizations, also known as collateralized loan obligations, are a form of secured financing incurred by a subsidiary of the company, which is consolidated by the company and subject to the company’s overall asset coverage requirements.
Apollo stated that it intends to use the proceeds from the debt securitization to, among other things, purchase certain loans from time to time.
Apollo Debt Solutions BDC launched its offering in early 2022 and is currently publicly offering on a continuous basis up to $10 billion in shares. As previously reported by The DI Wire, the company recently reported another increase in its monthly total NAV, while in June, it declared a special distribution of $0.02 per share.
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