Apollo issues $500M in 6% junior subordinated notes due 2054; to redeem $300M of existing notes

Apollo Global Management, Inc.

$500M aggregate principal of 6.000% Fixed-Rate Resettable Junior Subordinated Notes due 2054 issued.
Interest fixed at 6.000% until Dec 15, 2034, then resets at 5yr UST + 2.168%.
Proceeds to redeem in full $300M of Apollo Management Holdings' 4.950% Subordinated Notes due 2050.
Underwriters: J.P. Morgan, BofA Securities, Citigroup, Goldman Sachs; closing Oct 10, 2024.

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