Private Debt Club Lends $2.5 Billion for Vista's Avalara Buyout [Business News Network (BNN) (Canada)]
Apollo Global Management, Inc. (New) (APO)
Last apollo global management, inc. (new) earnings: 5/1 07:00 am
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Source: Business News Network
Apollo Global Management Inc. and HPS Investment Partners are also part of the financing, which was structured as a recurring-revenue loan, according to the people, who asked not to be identified discussing a private transaction. Loans based on annual contracted revenue have become an increasingly popular way to finance buyouts in the software industry for companies that have yet to generate a profit. The space is largely dominated by private credit funds, as banks have a hard time underwriting debt for loss-making companies. The loan for Avalara was structured as a unitranche, which blends first and second-lien debt into a single facility. It priced at a rate of between 7 and 7.5 percentage points over the Secured Overnight Financing Rate, one of the people said. Representatives for Blue Owl, Apollo, HPS and Vista declined to comment. Private credit providers have continued to finance mergers and acquisitions over the past several months, even as worries about inflation and
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News
- Private Credit's Answer to Liquidity Problem Finally Takes Shape [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Private Credit's Answer to Liquidity Problem Finally Takes Shape [BNN Bloomberg (Canada)]BNN Bloomberg
- Anchorage Digital Bank Launches Global Settlement Network For Digital Assets [Forbes]Forbes
- Blackstone's Results Confirm Apollo Is A Better Alternative [Seeking Alpha]Seeking Alpha
- Concord Poised to Increase Hipgnosis Bid to Top Blackstone [Yahoo! Finance]Yahoo! Finance
APO
Earnings
- 2/8/24 - Beat
APO
Sec Filings
- 4/11/24 - Form 4
- 3/21/24 - Form 4
- 3/5/24 - Form 4
- APO's page on the SEC website