Apollo Global Management, LLC To Sell New Preferred

9 am

Apollo Global Management LLC will sell a new series of preferred stock under the ticker symbol of APO-B.  This issue is non cumulative.  This issue will generate a K-1 for the holder.

Apollo currently has another preferred offering outstanding which has a coupon of 6.375% which is trading at a current price of $25.26.

The preliminary prospectus can be found here.

Further details to come as they are known.

2 thoughts on “Apollo Global Management, LLC To Sell New Preferred”

  1. Tim — APO-A (6.375%) is off .45 at $25.20
    ARES-A (7%) is doing much better trading at $26.44
    Quantum has APO-A with a BBB+ rating, but it is not doing so well.

    Reply

    1. Hi Jeff–yes the new issue is investment grade and I noticed right away the ‘A’ issue was getting a bit of a shellacking early today. For me since they are perpetuals I have no interest–now–maybe in 6 months–we’ll have to see.

      Tim

      Reply

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