Apollo Investment Corporation Enters New Four-Year $1.14B Senior Secured Revolving Credit Facility

Apollo Investment Corporation

today announced that it has entered into a new four-year $1.14 billion senior secured revolving credit facility. The Facility matures in May 2016, and includes a one year amortization period beginning in May 2015. The stated interest rate on the Facility is LIBOR plus 225 basis points, a 75 basis point reduction from our prior facility. The Facility contains an accordion feature whereby it can be expanded to $1.71 billion under certain conditions. The Facility includes customary covenants, including minimum asset coverage and minimum equity requirements, as well as customary events of default.