Apollo Management plans offering of guaranteed subordinated notes

By Cristal Cody

Tupelo, Miss., Dec. 9 – Apollo Management Holdings LP plans to price a dollar-denominated Rule 144A and Regulation S offering of guaranteed fixed-rate resettable subordinated notes (BBB+/BBB+), according to a news release on Monday.

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, which may include partially financing the purchase of $350 million of Athene Holding Ltd.’s class A common shares.

Apollo Management is an indirect subsidiary of New York City-based Apollo Global Management, Inc.

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