Apollo Global Prices $750M 5.7% Senior Notes, Plans $500M Redemption
Apollo Global Management priced $750M of 5.700% senior notes due 2036, raising net proceeds of about $745M to redeem $500M of its 4.400% notes due 2026. Shares have tumbled 22.06% year to date as private-credit market strains outweigh record $938B assets under management and spark bearish sentiment.
1. Debt Offering Details
Apollo Global Management has issued $750 million of senior notes maturing in 2036 with a 5.700% coupon. Interest will be paid semi-annually on March 30 and September 30, beginning September 30, 2026, and the notes are unconditionally guaranteed by key subsidiaries.
2. Use of Proceeds and Impact on Debt Profile
Net proceeds are expected to total roughly $745 million after underwriting discounts, which Apollo intends to use to retire in full its $500 million of 4.400% notes due 2026. This refinancing will extend the firm’s debt maturity profile and replace lower-coupon, near-term obligations.
3. Share Performance and Market Sentiment
Despite managing a record $938 billion in assets, Apollo shares have declined over 22% this year. Investor sentiment has soured amid signs of stress in private-credit markets, with social platforms reflecting growing bearish views.