Published on 6/6/2019 in the Prospect News Investment Grade Daily.
New Issue: Apollo Management prices $125 million tap of 4.872% 10-year senior notes at 104.812
By Cristal Cody
Tupelo, Miss., June 6 – Apollo Management Holdings LP priced a $125 million reopening of its 4.872% guaranteed senior notes due Feb. 15, 2029 (A/A) on Thursday at 104.812 in a Rule 144A and Regulation S transaction, according to an 8-K filing with the Securities and Exchange Commission.
Apollo previously priced the notes on Feb. 4 in a $550 million offering at 99.999 and a spread of 215 basis points over Treasuries. The total outstanding is now $675 million.
BofA Securities, Inc. was the bookrunner.
The notes are guaranteed by indirect subsidiaries Apollo Principal Holdings I LP, Apollo Principal Holdings II LP, Apollo Principal Holdings III LP, Apollo Principal Holdings IV LP, Apollo Principal Holdings V LP, Apollo Principal Holdings VI LP, Apollo Principal Holdings VII LP, Apollo Principal Holdings VIII LP, Apollo Principal Holdings IX LP, Apollo Principal Holdings X LP, Apollo Principal Holdings XI LLC, Apollo Principal Holdings XII LP and AMH Holdings (Cayman) LP.
Proceeds from the deal will be used for general corporate purposes.
Apollo Management is a subsidiary of New York City-based asset manager Apollo Global Management LLC.
| Issuer: | Apollo Management Holdings LP
|
| Guarantors: | Apollo Principal Holdings I LP, Apollo Principal Holdings II LP, Apollo Principal Holdings III LP, Apollo Principal Holdings IV LP, Apollo Principal Holdings V LP, Apollo Principal Holdings VI LP, Apollo Principal Holdings VII LP, Apollo Principal Holdings VIII LP, Apollo Principal Holdings IX LP, Apollo Principal Holdings X LP, Apollo Principal Holdings XI LLC, Apollo Principal Holdings XII LP and AMH Holdings (Cayman) LP
|
| Amount: | $125 million reopening
|
| Description: | Senior notes
|
| Maturity: | Feb. 15, 2029
|
| Bookrunner: | BofA Securities, Inc.
|
| Coupon: | 4.872%
|
| Price: | 104.812
|
| Trade date: | June 6
|
| Ratings: | S&P: A
|
| Fitch: A
|
| Distribution: | Rule 144A and Regulation S
|
| Total outstanding: | $675 million, including $550 million of notes priced Feb. 4 at 99.999 and a spread of 215 bps over Treasuries
|
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