Market Overview

Apollo Investment Corporation Prices Public Offering of $150 Million 6.625% Senior Unsecured Notes Due 2042


Apollo Investment Corporation (NASDAQ: AINV) or the "Company," "Apollo Investment," "we," or "our" today announced today that it has priced an underwritten public offering of $150 million in aggregate principal amount of 6.625% senior unsecured notes due 2042. The notes will mature on October 15, 2042 and may be redeemed in whole or in part at any time or from time to time at our option on or after October 15, 2017. The notes will bear interest at a rate of 6.625% per year payable quarterly on January 15, April 15, July 15 and October 15 of each year, with the first interest payment due on January 15, 2013.

Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC are acting as joint book-running managers for this offering. The offering is expected to close on October 9, 2012, subject to customary closing conditions. Apollo Investment intends to apply to list the notes on The New York Stock Exchange and if the application is approved, expects trading in the notes on The New York Stock Exchange to begin within 30 days from the original issue date under the ticker symbol "AIB."

Apollo Investment expects to use the net proceeds of this offering to repay certain outstanding indebtedness under its debt facilities and, to the extent not applied for such purpose, for general corporate purposes, which may include investing in portfolio companies in accordance with its investment objective.

Investors are advised to carefully consider the investment objective, risks, charges and expenses of Apollo Investment before investing. The preliminary prospectus supplement dated October 1, 2012 and the accompanying prospectus dated September 14, 2012, each of which have been filed with the Securities and Exchange Commission, contain this and other information about Apollo Investment and should be read carefully before investing.

Posted-In: News Financing


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