Market Overview

Apollo Commercial Real Estate Finance, Inc. Enters into Separate Privately Negotiated Agreements with Certain Holders of 5.50% Convertible Senior Notes


Apollo Commercial Real Estate Finance, Inc. (the "Company" or "ARI")
(NYSE:ARI), today announced the Company has entered into separate,
privately negotiated agreements with a limited number of holders of the
Company's 5.50% Convertible Senior Notes due 2019 (the "Notes").

Pursuant to the exchange agreements, the Company will exchange
approximately $206.2 million in aggregate principal amount of Notes, for
an aggregate of (i) 10,020,328 newly issued shares of ARI common stock
plus (ii) approximately $39.3 million in cash, together with accrued and
unpaid interest on the exchanged Notes up to, but excluding, the
settlement date. The Company will not receive any proceeds from the
issuance of such shares of ARI common stock. The exchanges are expected
to close on or about August 7, 2018, subject to customary closing
conditions. Following the exchanges, approximately $48.6 million
aggregate principal amount of the Notes will remain outstanding.

The shares of ARI common stock issuable upon exchange have not been
registered under the Securities Act of 1933, as amended, or any U.S.
state or non-U.S. securities laws and may not be offered or sold in the
United States absent registration or an applicable exemption from
registration requirements.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be any
sale of any securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or

About Apollo Commercial Real Estate Finance, Inc.

Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) is a real estate
investment trust that primarily originates, acquires, invests in and
manages performing commercial real estate mortgage loans, subordinate
financings and other commercial real estate-related debt investments.
The Company is externally managed and advised by ACREFI Management, LLC,
a Delaware limited liability company and an indirect subsidiary of
Apollo Global Management, LLC, a leading global alternative investment
manager with approximately $269.5 billion of assets under management at
June 30, 2018.

Forward-Looking Statements

Certain statements contained in this press release constitute
forward-looking statements as such term is defined in Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, and such statements are intended to be
covered by the safe harbor provided by the same. Forward-looking
statements are subject to substantial risks and uncertainties, many of
which are difficult to predict and are generally beyond the Company's
control. These forward-looking statements include information about
possible or assumed future results of the Company's business, financial
condition, liquidity, results of operations, plans and objectives. When
used in this release, the words believe, expect, anticipate, estimate,
plan, continue, intend, should, may or similar expressions, are intended
to identify forward-looking statements. Statements regarding the
following subjects, among others, may be forward-looking: the return on
equity; the yield on investments; the ability to borrow to finance
assets; the Company's ability to deploy the proceeds of its capital
raises or acquire its target assets; and risks associated with investing
in real estate assets, including changes in business conditions and the
general economy. For a further list and description of such risks and
uncertainties, see the reports filed by the Company with the Securities
and Exchange Commission. The forward-looking statements, and other
risks, uncertainties and factors are based on the Company's beliefs,
assumptions and expectations of its future performance, taking into
account all information currently available to the Company.
Forward-looking statements are not predictions of future events. The
Company disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.

View Comments and Join the Discussion!