Business News • MarketWire • Apollo Investment Corporation Completes $45 Million Add-On to Private Placement of Senior Secured Notes |
Apollo Investment Corporation Completes $45 Million Add-On to Private Placement of Senior Secured Notes |
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Apollo Investment Corporation Completes $45 Million Add-On to Private Placement of Senior Secured Notes
NEW YORK, NY--(Marketwire - Oct 5, 2011) - Apollo Investment Corporation (the "Company") (NASDAQ: AINV) announces that it has issued an additional $45 million of senior secured notes ("Notes") in a private placement to new and existing lenders. The additional Notes were divided into $29 million of new five year notes with a fixed interest rate of 5.875% and a maturity date of September 29, 2016 and $16 million of new seven year notes with a fixed interest rate of 6.25% and a maturity date of September 29, 2018. Interest on the Notes will be due semi-annually on March 29 and September 29. The Company may prepay the Notes, in whole or in part, at any time at a price equal to 100% of the principal amount being prepaid, plus accrued and unpaid interest and a "make-whole" prepayment premium. The proceeds from the issuance of the Notes will be used to fund new portfolio investments, reduce outstanding borrowings on our revolving credit facility and/or for general corporate purposes.
View More : http://www.marketwire.com/mw/release.do?id=1569533&sourceType=3
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