Apollo Commercial Real Estate Finance Announces Preferred Stock Offering

Apollo Commercial Real Estate Finance

today announced the Company has commenced an underwritten public offering of its shares of Series A Cumulative Perpetual Preferred Stock. Citigroup and BofA Merrill Lynch are the joint book-running managers for the offering. J.P. Morgan and RBC Capital Markets are the joint lead managers for the offering. Stifel Nicolaus Weisel and Barclays are co-managers for the offering. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of Series A Preferred Stock initially sold to the public. The Company intends to file an application to list the Series A Preferred Stock on the New York Stock Exchange.