Apollo Management prices $500 million of 4.4% 10-year notes at 99.912

By Lisa Kerner

Charlotte, N.C., May 25 – Apollo Global Management, LLC subsidiary Apollo Management Holdings, LP priced its $500 million of 4.4% 10-year senior notes at 99.912, according to a form 8-K filed with the Securities and Exchange Commission.

On Tuesday, Apollo sold the notes with a spread of 255 basis points over Treasuries. The notes (/A/A-) were talked to price in the Treasuries plus 255 bps to 260 bps range.

The bonds were sold via Rule 144A and Regulation S.

Goldman Sachs & Co. and J.P. Morgan Securities LLC were the bookrunners.

The notes are guaranteed by Apollo’s 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 and AMH Holdings (Cayman), LP.

Proceeds from the deal will be used for to repay about $100 million of outstanding term facility under an existing credit agreement and for general corporate purposes.

Apollo is a global alternative investment manager based in New York.

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