Apollo Debt Solutions BDC, a non-traded perpetual-life business development company sponsored by affiliates of Apollo Global Management, announced that its board of trustees declared special distributions totaling $0.06 per share to be distributed in three consecutive monthly payments of $0.02 per share.
Payments will be made around Mar. 29, 2023, Apr. 26, 2023, and May 26, 2023, for shareholders of record as of Feb. 28, 2023, Mar. 31, 2023, and Apr. 28, 2023.
Apollo says the special distributions will be paid in cash or reinvested in shares of the fund for shareholders participating in the fund’s distribution reinvestment plan. These special distributions are in addition to the regular monthly distribution of $0.16 per share that was declared on Jan. 20, 2023, to shareholders of record as of Jan. 31, 2023, to be paid on Feb. 24, 2023.
The special distributions pay out a portion of the Fund’s undistributed taxable income generated in 2022, which was supported by what the company describes as “the rising rate environment and attractive spreads on the fund’s newly originated loans.”
Apollo Partner Earl Hunt, chairman and CEO of Apollo Debt Solutions, said, “These special distributions reflect our desire to enhance the distribution rate for our shareholders given the current earnings tailwinds for the Fund while supporting our net asset value per share stability over the long-term. We believe we are well positioned to play offense for the foreseeable future and look forward to continuing to be a solutions provider for both our borrowers and investors.”
Apollo Debt Solutions BDC launched its $5 billion offering in early 2022 and has raised approximately $2.8 billion through its public and private offerings, as of Jan. 20, 2022.