New Issue: Apollo Investment sells $125 million 4.5% five-year notes at 99.872 to yield 4.529%

By Devika Patel

Knoxville, Tenn., July 9 – Apollo Investment Corp. priced $125 million of 4.5% five-year notes (Kroll: BBB-) with a spread of Treasuries plus 375 basis points on Friday, according to an FWP filed with the Securities and Exchange Commission.

The notes priced at 99.872 to yield 4.529%.

BofA Securities, Inc. was the bookrunner.

Proceeds will be used to repay debt under the company's senior secured facility and for general corporate purposes.

New York-based Apollo Investment is an externally managed, closed-end, non-diversified investment management company.

Issuer:	Apollo Investment Corp.
Description:	Notes
Amount:	$125 million
Maturity:	July 16, 2026
Bookrunner:	BofA Securities, Inc.
Joint lead managers:	Goldman Sachs & Co. LLC and MUFG
Co-managers:	Apollo Global Securities, LLC, Barclays, BMO Capital Markets Corp., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Keefe, Bruyette & Woods, Inc., Mizuho Securities USA LLC, Natixis Securities Americas LLC, RBC Capital Markets, LLC, Santander Investment Securities Inc. and Truist Securities Inc.
Coupon:	4.5%
Price:	99.872
Yield:	4.529%
Spread:	Treasuries plus 375 bps
Call:	Greater of a make-whole call at Treasuries plus 50 bps and a par call
Trade date:	July 9
Settlement date:	July 16
Rating:	Kroll: BBB-
Distribution:	SEC registered

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