Apollo Global Management issued $500,000,000 in 6.000% Fixed-Rate Resettable Junior Subordinated Notes due 2054 on October 10, 2024, in a previously announced underwritten public offering, the company said.

1. 01

   Apollo Global Management issued $500,000,000 in 6.000% Fixed-Rate Resettable Junior Subordinated Notes due 2054 on October 10, 2024, in a previously announced underwritten public offering, the company said.

2. 02

   The company said the Notes will bear a fixed interest rate of 6.000% per year until December 15, 2034 (the First Reset Date). After that, the rate for each Reset Period will equal the Five-Year U.S. Treasury Rate plus a spread of 2.168%.

3. 03

   The company said it plans to use the proceeds for general corporate purposes, including to redeem in full the $300,000,000 principal amount outstanding of Apollo Management Holdings, L.P.’s 4.950% Fixed-Rate Resettable Subordinated Notes due 2050, and to pay related fees and expenses.

4. 04

   Apollo Global Management said interest is payable semi-annually in arrears on June 15 and December 15 of each year, starting on June 15, 2025, subject to its right to defer interest payments. The company also entered into an underwriting agreement with J.P. Morgan Securities LLC and other representatives of the underwriters on October 3, 2024.

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