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Apollo Global Management, Inc. (NYSE: APO) (the "Issuer" and, together with its consolidated subsidiaries, "Apollo") today announced that it has priced an offering (the "Offering") of $400 million aggregate principal amount of its 4.600% Senior Notes due 2031 (the "2031 notes") and an additional $350 million aggregate principal amount of its 5.150% Senior Notes due 2035 (the "new 2035 notes" and, together with the 2031 notes, the "notes").
The notes will be fully and unconditionally guaranteed by certain subsidiaries of the Issuer that are obligors under the Issuer's outstanding debt securities. The Offering is expected to close on November 7, 2025, subject to the satisfaction of customary closing conditions.
The 2031 notes will bear interest at a rate of 4.600% per annum, payable semi-annually in arrears on January 15 and July 15 of each year, commencing on July 15, 2026. The new 2035 notes will bear interest at a rate of 5.150% per annum, payable semi-annually in arrears on February 12 and August 12 of each year, commencing on February 12, 2026.
The new 2035 notes constitute a further issuance of, and will be consolidated and form a single series with, the 5.150% Senior Notes due 2035, of which $500,000,000 principal amount was issued on August 12, 2025 (the "existing 2035 notes"). The issue price of the new 2035 notes will include accrued interest from, and including, August 12, 2025 to, but excluding, the issue date of the new 2035 notes, which is expected to be November 7, 2025. The terms of the new 2035 notes, other than their issue date and issue price, will be identical to the terms of the existing 2035 notes.
The net proceeds from the Offering will be approximately $742.1 million, after deducting the underwriting discounts but before Offering expenses and excluding accrued interest on the new 2035 notes. Apollo intends to use the net proceeds from the Offering for general corporate purposes.
BofA Securities, Citigroup, J.P. Morgan Securities LLC and Wells Fargo Securities are acting as joint book-running managers for the Offering. Apollo Global Securities; Blaylock Van, LLC; BMO Capital Markets; Mizuho; Ramirez & Co., Inc.; RBC Capital Markets; and SOCIETE GENERALE 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, telephone: 1-800-294-1322; Citigroup, telephone: 1-800-831-9146; J.P. Morgan Securities LLC, telephone: 1-212-834-4533; or Wells Fargo Securities, telephone: 1-800-645-3751.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
Forward-Looking Statements
In this press release, references to "Apollo," "we," "us," "our" and the "Company" refer collectively to Apollo Global Management, Inc. and its subsidiaries, or as the context may otherwise require. This press release may contain forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo's expectations regarding the completion of, and the use of proceeds from, the sale of the notes, the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis. These forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words "believe," "anticipate," "estimate," "expect," "intend," "target" or future or conditional verbs, such as "will," "should," "could," or "may," and variations of such words or similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to inflation, interest rate fluctuations and market conditions generally, international trade barriers, domestic or international political developments and other geopolitical events, including geopolitical tensions and hostilities, the impact of energy market dislocation, our ability to manage our growth, our ability to operate in highly competitive environments, the performance of the funds we manage, our ability to raise new funds, the variability of our revenues, earnings and cash flow, the accuracy of management's assumptions and estimates, our dependence on certain key personnel, our use of leverage to finance our businesses and investments by the funds we manage, the ability of Athene Holding Ltd. ("Athene") to maintain or improve financial strength ratings, the impact of Athene's reinsurers failing to meet their assumed obligations, Athene's ability to manage its business in a highly regulated industry, changes in our regulatory environment and tax status, and litigation risks, among others. We believe these factors include but are not limited to those described under the section entitled "Risk Factors" in the Issuer's annual report on Form 10-K filed with the SEC on February 24, 2025, as such factors may be updated from time to time in the Issuer's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in the Issuer's other filings with the SEC. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of Apollo or any Apollo fund.
Contacts
For investors please contact:
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
communications@apollo.com
