false0001837532NY 0001837532 2024-10-17 2024-10-17
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
 
 
FORM
8-K
 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of t
he
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 17, 2024
 
 
Apollo Debt Solutions BDC
(Exact name of Registrant as Specified in Its Charter)
 
 
 
Delaware
 
814-01424
 
86-1950548
(State or Other Jurisdiction
of Incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)
 
9 West 57th Street
New York
,
NY
 
10019
(Address of Principal Executive Offices)
 
(Zip Code)
Registrant’s telephone number, including area code:
212
-
515-3200
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
 
 
Check the appropriate box below if the Form
8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17 CFR
240.14a-12)
 
Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
 
Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act: None
 
Title of each class
 
Trading Symbol(s)
 
Name of each exchange on which registered
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2
of the Securities Exchange Act of 1934
(§240.12b-2
of this chapter).
Emerging growth company 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
 
 

Item 1.01. Entry into a Material Definitive Agreement.
On October 17, 2024, Apollo Debt Solutions BDC (the “Company”) amended and extended its senior secured, multi-currency, revolving credit facility (the “Facility”). Lender commitments under the Facility increased from $2.185 billion to $2.740 billion and the Facility’s “accordion” feature that allows the Company to increase the size of the Facility increased from $3.2775 billion to $4.110 billion.
The final maturity date under the Facility was extended by over one year from October 12, 2028 to October 17, 2029. The covenants and representations and warranties the Company is required to comply with were also modified (including, among other things, that the minimum shareholders’ equity test was reset), but the remaining terms and conditions of the Facility remain substantially the same. The Facility continues to include usual and customary events of default for senior secured revolving credit facilities of this type.
Borrowings under the Facility (and the incurrence of certain other permitted debt) continue to be subject to compliance with a Borrowing Base that applies different advance rates to different types of assets in the Company’s portfolio. The advance rate applicable to any specific type of asset in the Company’s portfolio depends on the relevant asset coverage ratio as of the date of determination. Borrowings under the Facility continue to be subject to the leverage restrictions contained in the Investment Company Act of 1940, as amended.
Terms used in the foregoing paragraphs have the meanings set forth in the Facility. The description above is only a summary of the material provisions of the Facility and does not purport to be complete and is qualified in its entirety by reference to the provisions in such Facility, which is attached hereto as Exhibit 10.1.
 
Item 2.03.
Creation of a Direct Financial Obligation or an Obligation under
an Off-Balance Sheet
Arrangement of a Registrant.
The information provided in Item 1.01 of this current report on Form
8-K
is incorporated by reference into this Item 2.03.
 
Item 9.01.
Financial Statements and Exhibits.
(d) Exhibits
 
Exhibit No.
  
Description
10.1*    Second Amended and Restated Senior Secured Revolving Credit Agreement, dated as of October 17, 2024, by and among Apollo Debt Solutions BDC, as borrower, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto.
104    Cover page interactive data file (formatted as Inline XBRL)
 
*
Schedules to this Exhibit have been omitted in accordance with Item 601 of Regulation
S-K.
The registrant agrees to furnish supplementally a copy of all omitted schedules to the SEC upon its request.

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
   
APOLLO DEBT SOL
UTI
ONS BDC
Date: October 21, 2024   By:  
/s/ Kristin Hester
    Name:   Kristin Hester
    Title:   Chief Legal Officer and Secretary