Category: 3. Business

NEW YORK, Aug. 07, 2025 (GLOBE NEWSWIRE) — Apollo Global Management, Inc. (NYSE: APO) (the “Issuer” and, together with its consolidated subsidiaries, “Apollo”) today announced that it has priced an offering (the “Offering”) of $500 million aggregate principal amount of its 5.150% Senior Notes due 2035 (the “notes”).

The notes will be fully and unconditionally guaranteed by certain subsidiaries of the Issuer that are obligors under the Issuer’s outstanding debt securities. The Offering is expected to close on August 12, 2025, subject to customary closing conditions.

The notes will bear interest at a rate of 5.150% per annum, payable semi-annually in arrears on February 12 and August 12 of each year, commencing on February 12, 2026.

The net proceeds from the Offering will be approximately $495.5 million, after deducting the underwriting discount but before Offering expenses. Apollo intends to use the proceeds from the Offering for general corporate purposes, including to repay, upon the consummation of the previously announced acquisition of Bridge Investment Group Holdings Inc., all issued and outstanding senior secured notes of Bridge Investment Group Holdings LLC (“Bridge LLC”) (collectively, the “Bridge Senior Notes”) and certain other indebtedness of Bridge LLC, and to pay related fees and expenses in connection with the Offering and the use of proceeds therefrom.

Citigroup Global Markets Inc., BofA Securities, Inc., Barclays Capital Inc. and Goldman Sachs & Co. LLC are acting as joint book-running managers. Apollo Global Securities, LLC, BMO Capital Markets Corp., BNP Paribas Securities Corp., HSBC Securities (USA) Inc., MUFG Securities Americas Inc., Drexel Hamilton, LLC and Siebert Williams Shank & Co., LLC are acting as co-managers for the Offering.

The Offering is being made pursuant to an effective shelf registration statement on file with the U.S. Securities and Exchange Commission (the “SEC”). The Offering is being made by means of a prospectus and related preliminary prospectus supplement only. An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is available on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting the joint book-running managers: Citigroup Global Markets Inc., telephone: 1-800-831-9146; BofA Securities, Inc., telephone: 1-800-294-1322; Barclays Capital Inc., telephone: 1-888-603-5847 and Goldman Sachs & Co. LLC, telephone: 1-866-471-2526.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release shall not constitute a notice of redemption with respect to the Bridge Senior Notes.

Forward-Looking Statements

In this press release, references to “Apollo,” “we,” “us,” “our” and the “Company” refer collectively to Apollo Global Management, Inc. and its subsidiaries, or as the context may otherwise require. This press release may contain forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the completion of, and the use of proceeds from, the sale of the notes, the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “target” or future or conditional verbs, such as “will,” “should,” “could,” or “may,” and variations of such words or similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to inflation, interest rate fluctuations and market conditions generally, international trade barriers, domestic or international political developments and other geopolitical events, including geopolitical tensions and hostilities, the impact of energy market dislocation, our ability to manage our growth, our ability to operate in highly competitive environments, the performance of the funds we manage, our ability to raise new funds, the variability of our revenues, earnings and cash flow, the accuracy of management’s assumptions and estimates, our dependence on certain key personnel, our use of leverage to finance our businesses and investments by the funds we manage, the ability of Athene Holding Ltd. (“Athene”) to maintain or improve financial strength ratings, the impact of Athene’s reinsurers failing to meet their assumed obligations, Athene’s ability to manage its business in a highly regulated industry, changes in our regulatory environment and tax status, and litigation risks, among others. We believe these factors include but are not limited to those described under the section entitled “Risk Factors” in the Issuer’s annual report on Form 10-K filed with the SEC on February 24, 2025, as such factors may be updated from time to time in the Issuer’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in the Issuer’s other filings with the SEC. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of Apollo or any Apollo fund.

Contacts

For investors please contact:
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
communications@apollo.com

President Trump plans to nominate White House economist Stephen Miran to fill a six-month vacancy on the Federal Reserve’s board of governors.

In a post on social media, Trump said he wants Miran to fill the board seat being vacated by Adriana Kugler, whose term expires at the end of January. Kugler announced last week she’s leaving the Fed six months early to return to a teaching post at Georgetown University.

Trump said he will continue to search for a nominee to fill a new, 14-year term on the Fed board that begins early next year. The nominations are subject to Senate confirmation.

Miran currently serves as chairman of the White House Council of Economic Advisers. He also held a post in the Treasury Department during Trump’s first term as president.

Kugler’s departure gives Trump his first opening to shape the Fed board since returning to the White House. Trump has criticized Fed chairman Jerome Powell and his colleagues for not moving more aggressively to cut interest rates.

Powell’s term as Fed chairman ends next May, although his term on the governing board runs through 2028. Powell has not said whether he plans to remain on the board once he steps down as chair.

President Donald Trump signed an executive order easing access to private equity, real estate, cryptocurrency and other alternative assets in 401(k)s, a major victory for industries looking to tap some of the roughly $12.5 trillion held in those retirement accounts.

Trump signed the order Thursday, according to the White House. It directs the Labor Department to reevaluate guidance around alternative asset investments in retirement plans subject to the Employee Retirement Income Security Act of 1974 within six months.

Pakistan Refinery Limited will import its first cargo of Nigerian Bonny Light crude from Vitol in September, two sources familiar with the matter said, as Asian refiners shift towards cheaper alternatives to Middle Eastern oil.

The 500,000-barrel, light-sweet crude cargo is expected to load later this month and arrive in Karachi by late September, the sources said, declining to be named as the information is not yet public. The price was not immediately known.

The purchase follows Pakistan’s first deal to import US crude, also supplied by Vitol, by Cnergyico, which is scheduled to arrive in October. Almost all of Pakistan’s crude imports are sourced from the Middle East, primarily Saudi Arabia and the United Arab Emirates.

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However, along with other Asian refiners, Pakistan’s industry has shown increased interest in recent months in supplies from elsewhere, including US West Texas Intermediate and Kazakh CPC Blend, after Middle Eastern supplies became more expensive.

As early as 2014, Pakistan imported a Nigerian Yoho crude, according to data from Kpler, but the Bonny Light purchase is the country’s first known purchase of Bonny Light, which is valued for its high yields of gasoline and diesel.

Oil is Pakistan’s largest import item, with crude and petroleum products of $11.3 billion in the fiscal year ended June 30, 2025 representing nearly a fifth of the country’s total import bill.