Apollo Completes $500 Million Subordinated Notes Offering

Paul, Weiss advised Apollo Global Management in its offering of $500 million aggregate principal amount of its 6.000% fixed-rate resettable junior subordinate notes due 2054. The notes are fully and unconditionally guaranteed by certain Apollo subsidiaries. Apollo will use the net proceeds from the offering for general corporate purposes, including to redeem in full its $300 million aggregate principal amount outstanding of the 4.950% fixed-rate resettable subordinated notes due 2050. J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC acted as joint bookrunning managers for the offering.

The Paul, Weiss team was led by Christodoulos Kaoutzanis and Gregory Ezring, and included corporate partners Brian Janson and Brad Finkelstein, and tax partners Brian Grieve and Brad Okun.