Apollo Debt Solutions BDC Declares Monthly NAV Per Share
Apollo Debt Solutions BDC, a non-traded perpetual-life business development company sponsored by affiliates of Apollo Global Management, has declared its monthly net asset value per share for July 2022.
Apollo Debt Solutions BDC, a non-traded perpetual-life business development company sponsored by affiliates of Apollo Global Management, has declared its monthly net asset value per share for July 2022.
Class I, Class S, and Class D shares had an NAV per share of $23.43 as of July 31, 2022, compared to $22.87 the previous month. Shares were originally priced at $25.00 each.
As of July 31, 2022, the fund’s aggregate NAV was $1.8 billion, the fair value of its investment portfolio was $3.8 billion, and it had $1.9 billion of principal debt outstanding, resulting in a debt-to-equity leverage ratio of approximately 1.05x. The fund’s net leverage ratio as of July 31, 2022 was approximately 1.08x.
This compares to the previous month when the fund’s aggregate NAV was $1.7 billion, the fair value of its investment portfolio was $3.7 billion, and it had $1.9 billion of principal debt outstanding, resulting in a debt-to-equity leverage ratio of approximately 1.13 times. The fund’s net leverage ratio as of June 30, 2022 was approximately 1.23 times.
In a filing with the Securities and Exchange Commission, the company said, “The recovery in secondary loan prices positively impacted the valuation of fund’s liquid loan investments and was the primary driver of our month-over-month net asset value per share increase of 2.4 percent to $23.43 as of July 31, 2022. [The fund] generated a return of 3.0 percent for Class S common shares (without upfront placement fees) for July.”
Apollo Debt Solutions BDC launched its $5 billion offering in early 2022 and has raised $2 billion through its public and private offerings, as of July 31, 2022.
