Apollo Infra tables syndication of $360 million credit facilities

By Sara Rosenberg

New York, Dec. 19 – Apollo Infra Equity US Holdco LLC postponed syndication of its $360 million of credit facilities (Ba2/BB) until further notice, according to a market source.

The facilities consist of a $35 million revolver, a $50 million letter-of-credit facility and a $275 million seven-year term loan B.

Price talk on the term loan B was Libor plus 450 basis points with a 0% Libor floor and an original issue discount of 99, after flexing last week from talk at launch of Libor plus 425 bps with a 0% Libor floor and a discount of 99.5.

The term loan B was also talked with 101 soft call protection for six months.

RBC Capital Markets, Goldman Sachs Bank USA and BMO Capital Markets are the bookrunners on the deal.

Proceeds will be used to help fund Apollo Global Management LLC’s acquisition of an about $1 billion portfolio, including assumed obligations, of predominantly equity investments in energy assets from GE Capital’s Energy Financial Services unit.

The equity portfolio is comprised of about 20 investments in renewable energy, contracted natural gas fired generation and midstream energy infrastructure assets, primarily in the United States.

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