Apollo Debt Solutions BDC closes $496M CLO backed by first-lien loans

Apollo Debt Solutions BDC

Issued notes and loans totaling $496M, with AAA-rated tranches paying SOFR+1.67% and SOFR+1.90%.
Company retained 100% of Class B ($40M), Class C ($30M), and $86M subordinated notes.
Proceeds will be used to purchase first-lien commercial loans from the company via loan sale agreement.
Collateral management fee set at 0.0% per annum; debt matures July 2037 (secured) / July 2125 (subordinated).
Securitization executed through subsidiary ADL CLO 1 LLC with BNP Paribas as initial purchaser.

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