Apollo prices $600 million offering of junior subordinated debt
APO•Apollo Global Management priced $600 million of junior subordinated notes with a 7.55% fixed annual rate through December 15, 2036, and a later rate based on the five-year U.S. Treasury rate plus 2.67%. The offering is expected to close November 13, 2026, with about $594 million in net proceeds for general corporate purposes, including an investment in Mubadala Capital Asset Management.
1. Offering details
Apollo Global Management priced $600 million of 7.55% Fixed-Rate Resettable Junior Subordinated Notes due 2056. The notes carry a fixed 7.55% annual interest rate until December 15, 2036; subsequent reset periods will use the five-year U.S. Treasury rate plus 2.67%. The offering is expected to close November 13, 2026, subject to customary closing conditions. Expected net proceeds of approximately $594 million will support general corporate purposes, including an investment in Mubadala Capital Asset Management.
