Apollo Commercial to launch $400 million term loan B on Friday

By Sara Rosenberg

New York, April 25 – Apollo Commercial Real Estate Finance Inc. is scheduled to hold a lender call at 11 a.m. ET on Friday to launch a $400 million seven-year senior secured term loan B (BB-), according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

Price talk on the term loan is Libor plus 275 basis points to 300 bps with a 0% Libor floor and an original issue discount of 99, the source said.

The term loan has 101 soft call protection for six months.

Proceeds will be used for general corporate purposes.

Commitments are due at 5 p.m. ET on May 7, the source added.

Apollo Commercial is a New York-based real estate investment trust that primarily originates, acquires, invests in and manages performing commercial real estate mortgage loans, subordinate financings and other commercial real estate-related debt investments.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.