Apollo Commercial increases borrowing cap on facility to $300 million

By Marisa Wong

Madison, Wis., Oct. 3 – Apollo Commercial Real Estate Finance Inc. lifted the maximum permitted borrowing under its credit facility to $300 million from $275 million, according to an 8-K filing with the Securities and Exchange Commission.

The company said it entered into an amendment letter related to the master repurchase agreement with Deutsche Bank AG on Wednesday through an indirect wholly owned subsidiary.

The borrowing cap was recently increased from $250 million, as reported by Prospect News on Sept. 26.

The maximum size may be increased by $25 million no more than one time at the company’s request, a previous filing said.

Apollo is a New York-based real estate investment trust that primarily originates, invests in, acquires and manages performing commercial real estate-related debt instruments.

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