APO - Apollo Prices Offering of Senior Notes | Benzinga
NEW YORK, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE:APO) (the "Issuer" and, together with its consolidated subsidiaries, "Apollo") today announced that it has priced an offering of $500 million aggregate principal amount of its 6.375% Senior Notes due 2033 (the "notes").
The notes will be fully and unconditionally guaranteed by Apollo Asset Management, Inc., Apollo Principal Holdings I, L.P., Apollo Principal Holdings II, L.P., Apollo Principal Holdings III, L.P., Apollo Principal Holdings IV, L.P., Apollo Principal Holdings V, L.P., Apollo Principal Holdings VI, L.P., Apollo Principal Holdings VII, L.P., Apollo Principal Holdings VIII, L.P., Apollo Principal Holdings IX, L.P., Apollo Principal Holdings X, L.P., Apollo Principal Holdings XII, L.P., AMH Holdings (Cayman), L.P. and Apollo Management Holdings, L.P. ("AMH"). The offering is expected to close on November 13, 2023, subject to customary closing conditions.
The notes will bear interest at a rate of 6.375% per annum, payable semi-annually in arrears on May 15 and November 15 of each year, commencing on May 15, 2024.
The net proceeds from the offering will be approximately $493.1 million, after deducting underwriting discounts but before offering expenses. Apollo intends to use the proceeds from the offering to repurchase, repay, redeem or otherwise retire in full the $500 million aggregate principal amount outstanding of the 4.000% Senior Notes due 2024 issued by AMH (the "2024 Senior Notes") before or upon their maturity and pay related fees and expenses.
BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and RBC Capital Markets, LLC are acting as joint book-running managers. Academy Securities, Inc., Apollo Global Securities, LLC, Barclays Capital Inc., BNP Paribas Securities Corp., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, Siebert Williams Shank & Co., LLC and UBS Securities LLC are acting as ...