Apollo Prices Offering of Senior Notes

NEW YORK, May 16, 2024 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (the “Issuer” and, together with its consolidated subsidiaries, “Apollo”) today announced that it has priced an offering of $750 million aggregate principal amount of its 5.800% Senior Notes due 2054 (the “notes”).

The notes will be fully and unconditionally guaranteed by Apollo Asset Management, Inc., Apollo Principal Holdings I, L.P., Apollo Principal Holdings II, L.P., Apollo Principal Holdings III, L.P., Apollo Principal Holdings IV, L.P., Apollo Principal Holdings V, L.P., Apollo Principal Holdings VI, L.P., Apollo Principal Holdings VII, L.P., Apollo Principal Holdings VIII, L.P., Apollo Principal Holdings IX, L.P., Apollo Principal Holdings X, L.P., Apollo Principal Holdings XII, L.P., AMH Holdings (Cayman), L.P. and Apollo Management Holdings, L.P. The offering is expected to close on May 21, 2024, subject to customary closing conditions.

The notes will bear interest at a rate of 5.800% per annum, payable semi-annually in arrears on May 21 and November 21 of each year, commencing on November 21, 2024.

The net proceeds from the offering will be approximately $743.4 million, after deducting underwriting discounts but before offering expenses. Apollo intends to use the net proceeds from the offering for general corporate purposes.

BofA Securities, Inc., Barclays Capital Inc., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC are acting as joint book-running managers. Apollo Global Securities, LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, RBC Capital Markets, LLC, Wells Fargo Securities, LLC, Blaylock Van, LLC and Drexel Hamilton, LLC are acting as co-managers for the offering.

The offering is being made pursuant to an effective shelf registration statement on file with the U.S. Securities and Exchange Commission (the “SEC”). The offering is being made by means of a prospectus and related preliminary prospectus supplement only. An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is available on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting the joint book-running managers: BofA Securities, Inc., telephone: [phone]; Barclays Capital Inc., telephone: [phone]; Citigroup Global Markets Inc., telephone: [phone]; or Morgan Stanley & Co. LLC, telephone: [phone].