Apollo (APO) Prices $500M Notes Offering

Apollo Global Management, Inc. (NYSE: APO) (the “Issuer” and, together with its consolidated subsidiaries, “Apollo”) today announced that it has priced an offering of $500 million aggregate principal amount of its 6.375% Senior Notes due 2033 (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. (“AMH”). The offering is expected to close on November 13, 2023, subject to customary closing conditions.

The notes will bear interest at a rate of 6.375% per annum, payable semi-annually in arrears on May 15 and November 15 of each year, commencing on May 15, 2024.

The net proceeds from the offering will be approximately $493.1 million, after deducting underwriting discounts but before offering expenses. Apollo intends to use the proceeds from the offering to repurchase, repay, redeem or otherwise retire in full the $500 million aggregate principal amount outstanding of the 4.000% Senior Notes due 2024 issued by AMH (the “2024 Senior Notes”) before or upon their maturity and pay related fees and expenses.

BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and RBC Capital Markets, LLC are acting as joint book-running managers. Academy Securities, Inc., Apollo Global Securities, LLC, Barclays Capital Inc., BNP Paribas Securities Corp., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, Siebert Williams Shank & Co., LLC and UBS Securities 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: 1-800-294-1322; Citigroup Global Markets Inc., telephone: 1-800-831-9146; Goldman Sachs & Co. LLC, telephone: 1-866-471-2526; or RBC Capital Markets, LLC, telephone: 1-866-375-6829.

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. This press release shall not constitute a notice of redemption with respect to the 2024 Senior Notes.

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