NEW YORK, July 09, 2021 (GLOBE NEWSWIRE) – Apollo Investment Corporation (NASDAQ: AINV) (the “Company”) today announced that it has priced a firm takeover bid of $ 125 million in the aggregate principal amount of 4,500% of bonds due 2026 (the “Notes”). The Notes will mature on July 16, 2026 and may be redeemed in whole or in part at the option of the Company at any time. at par plus a “redemption” premium if applicable. The Notes will bear interest at the rate of 4.500% per annum payable semi-annually on January 16 and July 16 of each year, with the first interest payment due on January 16 2022.
BofA Securities, Inc. acts as the sole accounting manager. Goldman Sachs & Co. LLC and MUFG are acting as joint lead managers for this offering. Apollo Global Securities, Barclays, BMO Capital Markets, Citigroup, Credit Suisse, Deutsche Bank, Keefe, Bruyette & Woods, A Stifel company, Mizuho Securities, Natixis, RBC Capital Markets, Santander and Truist Securities act as co-managers in this offer. The closing of the offer is scheduled for July 16, 2021, subject to customary closing conditions.
The Company expects to use the net proceeds of the Offering to repay certain outstanding debts under its senior secured revolving credit facility (the “Senior Secured Facility”). The Company may re-borrow under the Senior Secured Facility for general corporate purposes, including by investing in holding companies in accordance with its investment objective.
Investors are advised to carefully consider the investment objective, risks, costs and expenses of the Company before investing. The preliminary prospectus supplement dated July 9, 2021 and the accompanying prospectus dated July 17, 2020, each of which has been filed with the Securities and Exchange Commission (“SEC”), contain this and other information relating to the Company and should be read carefully. before investing.
The offer may only be made by way of a preliminary prospectus supplement and accompanying prospectus, copies of which can be obtained by calling BofA Securities, Inc. toll free at 1-800-294-1322 or by e-mail [email protected].
This communication does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of such securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or other jurisdiction.
About Apollo Investment Corporation
Apollo Investment Corporation (NASDAQ: AINV) is a closed-end investment company that has elected to be treated as a business development company under the Investment Companies Act of 1940. The company invests primarily in various forms of debt investment, including secured and unsecured debt. , investments in the form of loans and / or participations in private companies in the middle market. The Company may also invest in public company securities and structured products and other investments such as secured loan bonds and credit linked notes. The Company seeks to provide private financing solutions to private companies that do not have access to more traditional credit providers. Apollo Investment Corporation is managed by Apollo Investment Management, LP, a subsidiary of Apollo Global Management, Inc., a high-growth global alternative asset manager with approximately $ 461 billion in assets under management as of March 31, 2021. For more information, please visit www.apolloic.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, including, but not limited to, statements regarding our future operating results. ; our business outlook and the outlook for the companies in our portfolio; the impact of the investments we plan to make; our contractual arrangements and our relationships with third parties; the dependence of our future success on the general economy and its impact on the industries in which we invest; the ability of the companies in our portfolio to achieve their objectives; our funding and expected investments; the adequacy of our liquidity and working capital; and the timing of cash flows, if any, from the activities of our portfolio companies.
We may use words such as “anticipates”, “believes”, “expects”, “intention”, “will”, “should”, “could” and similar expressions to identify forward-looking statements. These statements are based on currently available operational, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience and current expectations. Statements regarding the following topics, among others, may be forward-looking: macro- and micro-economic impact of the COVID-19 pandemic; the severity and duration of the COVID-19 pandemic; measures taken by government authorities to contain the COVID-19 pandemic or address its impact; the impact of the COVID-19 pandemic on our financial condition, results of operations, liquidity and capital resources; return on equity; return on investments; the ability to borrow to finance assets; new strategic initiatives; the ability to reposition the investment portfolio; market outlook; future investment activity; and the risks associated with investing in real estate assets, including changes in business conditions and the economy in general. These forward-looking statements should not be relied on unduly because such statements speak only as of the date on which they are made. We do not undertake to update our forward-looking statements unless required by law.
For more information on the COVID-19 pandemic and its potential impact on the Company’s operating results and financial condition, please refer to the COVID-19 Related Developments section and additional information in our form. 10-K for the period ended March 31, 2021.
Head of Investor Relations
Apollo Investment Company