Apollo Debt Solutions BDC
Apollo Debt Solutions BDC honored 45.25% of $1,597,055,234 requested in Q2 2026, per its SC TO-I/A filed 2026-05-06.
- Fund
- Apollo Debt Solutions BDC
- Type
- Non-traded BDC
Most recent quarter
Every figure above was read from this filing: SC TO-I/A filed .
How we read this filing
The filing’s own words
Verbatim sentences from the SC TO-I/A filed May 6, 2026 . Each figure on this page traces to one of them.
66,882,332 Shares of the Fund were validly tendered and not withdrawn prior to the expiration of the Offer.
The Fund accepted for purchase 30,261,082 Shares of the Fund on a pro rata basis based on the number of tendered Shares, representing 5% of the Shares of the Fund outstanding as of December 31, 2025.
Pursuant to the promissory notes, the Fund paid on or about April 30, 2026 to the tendering Shareholders a total of $722,591,721 representing the net asset value of the total amount of the Shares tendered by Shareholders, less the early repurchase deduction, as applicable.
The net asset value of Shares tendered pursuant to the Offer was calculated as of the Valuation Date in the amount of $723,115,787.
Checks we ran
Each extracted figure is cross-checked against the others before anything is published. A filing that fails a check is not estimated — it is listed as one we could not read.
| Check | Result | Detail |
|---|---|---|
| aggregate_is_honored_not_requested | Passed | The filing states a net asset value of $723,115,787 and separately says it PAID $722,591,721 — the same figure — while honoring only 45.25% of the shares tendered. A fund cannot pay the whole of what was requested while honoring part of it, so that figure is what it HONORED. The request was $1,597,055,234. |
| shares_accepted_within_tendered | Passed | 30,261,082 shares accepted vs 66,882,332 tendered. A fund cannot accept more than was offered to it. |
| honored_pct_in_range | Passed | Honored 45.25% of shares tendered. |
| requested_usd_plausible | Passed | Requested $1,597,055,234 — at or above the $1,000,000 scale floor. |
| honored_not_above_requested | Passed | Honored $722,591,721 of $1,597,055,234 requested. |
| dollars_consistent_with_shares | Passed | Dollars honored are 45.25% of dollars requested, against 45.25% of shares. These describe the same event and must agree to within 5 points (the gap is the early repurchase deduction). |
| implied_nav_per_share_agrees | Passed | The request implies $23.88 a share ($1,597,055,234 / 66,882,332); what was honored implies $23.88 ($722,591,721 / 30,261,082). Every share in one offer is priced at the same net asset value, so these must agree. |
| implied_nav_per_share_plausible | Passed | The implied net asset value is $23.88 a share. A non-traded BDC prices in the tens of dollars; a figure far outside that is a misread, not a discovery. |
How we built this list, and what we exclude — the derivation of the fund list, the cross-checks every figure has to pass, and the funds that are deliberately absent.
Repurchase history
Every quarter of this fund for which a result could be read from a filing, newest first. Each row cites the document it came from.
| Period | Honored % | Requested | Honored | Source filing |
|---|---|---|---|---|
| Q2 2026 | 45.25% Prorated | $1.6bn | $723m | SC TO-I/A · |
| Q1 2026 | 100.00% Honored in full | $689m | $689m | SC TO-I/A · |
| Q4 2025 | 100.00% Honored in full | $399m | $399m | SC TO-I/A · |
| Q3 2025 | 100.00% Honored in full | $207m | $207m | SC TO-I/A · |
| Q2 2025 | 100.00% Honored in full | $130m | $130m | SC TO-I/A · |
| Q1 2025 | 100.00% Honored in full | $62.5m | $62.4m | SC TO-I/A · |
| Q4 2024 | 100.00% Honored in full | $68.1m | $68.1m | SC TO-I/A · |
| Q3 2024 | 100.00% Honored in full | $40.2m | $40.1m | SC TO-I/A · |
| Q2 2024 | 100.00% Honored in full | $126m | $126m | SC TO-I/A · |
| Q1 2024 | 100.00% Honored in full | $43.3m | $43.3m | SC TO-I/A · |
| Q4 2023 | 100.00% Honored in full | $48.9m | $48.9m | SC TO-I/A · |
| Q3 2023 | 100.00% Honored in full | $87.8m | $87.8m | SC TO-I/A · |
Source: this fund’s own filings on SEC EDGAR (Schedule TO-I and its amendments). “Honored in full” means every share validly tendered was repurchased; “prorated” means a share of each request was.