Apollo’s Cardinal amends credit agreement to allow bond financing, lift potential increase amount

By Wendy Van Sickle

Columbus, Ohio, April 20 – Apollo Debt Solutions BDC’s Cardinal Funding LLC subsidiary amended its credit and security agreement entered on Jan. 7 to increase the amount of additional commitments Cardinal can request from its lenders to $1.35 billion from $750 million, according to an 8-K filing with the Securities and Exchange Commission.

The amendment closed on April 7 and also allows Cardinal Funding to finance bonds under the credit facility. Advances used to finance bonds will initially bear interest at the reference rate applicable plus 200 bps.

Citibank, NA is the administrative agent.

New York-based Apollo provides individual investors access to investments.

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