Apollo's Biz Lender Rejiggers Terms, Adds To $1.1B Credit

Law360, New York (September 16, 2013, 4:45 PM EDT) -- Business lender Apollo Investment Corp., a listed affiliate of private equity giant Apollo Global Management LLC, said Monday it has reworked terms on its credit facility, trimming the interest rate and expanding the revolver to $1.25 billion.

AIC added $110 million to its credit line, held by JPMorgan Chase Bank NA and others. It also shaved 25 basis points off its costs, extended it by two years, through September 2018, and scrapped the Libor floor on the old loan. Standard covenants remain, including a minimum coverage...
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