NEW YORK - Apollo Global Management, Inc. (NYSE: NYSE:APO), a leading global alternative investment manager, has launched an offering of senior notes, which will be fully and unconditionally guaranteed by several of its subsidiaries. The company revealed its intent to use the net proceeds for general corporate purposes.
The guarantees for the notes come from a broad array of Apollo's holdings, including Apollo Asset Management, Inc. and various Apollo Principal Holdings entities, among others. The offering is subject to market and other conditions.
Joint book-running managers for the transaction include BofA Securities, Inc., Barclays Capital Inc., Citigroup Global Markets Inc., and Morgan Stanley & Co. LLC. Apollo Global Securities, LLC is serving as a co-manager. The offering is being conducted under an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC).
The company's latest financial filings with the SEC were its annual report on Form 10-K on February 27, 2024, and its quarterly report on Form 10-Q on May 7, 2024. These documents contain a comprehensive list of risk factors and other cautionary statements that are relevant to the current offering and the company's operations.
This news is based on a press release statement from Apollo Global Management, Inc.
InvestingPro Insights
As Apollo Global Management (NYSE: APO) ventures into the debt market with its senior notes offering, investors are closely watching the company's performance metrics. According to InvestingPro data, Apollo currently holds a market capitalization of approximately $65.62 billion. The firm has demonstrated a significant revenue growth of 120.25% over the last twelve months as of Q1 2024, with a gross profit margin standing at 26.29%. This financial robustness is reflected in Apollo's Price / Book multiple, which is relatively high at 4.9, indicating that the market values the company's assets favorably.
InvestingPro Tips suggest that while analysts have recently revised their earnings expectations downwards for Apollo, the company remains a prominent player in the Financial Services industry. This status is underscored by Apollo's impressive one-year price total return of 89.8%, which may be attractive to investors looking for strong performance records. Additionally, Apollo has been consistent in maintaining dividend payments for 14 consecutive years, with a recent dividend yield of 1.61% as of the latest dividend ex-date on May 16, 2024.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available, which provide further insights into Apollo's financial health and market position. Readers interested in exploring these tips can find them on InvestingPro's dedicated page for Apollo at https://www.investing.com/pro/APO. For those considering a subscription, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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