UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 23, 2012
Apollo Investment Corporation
(Exact Name of Registrant as Specified in Charter)
Maryland | 814-00646 | 52-2439556 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
9 West 57th Street,
New York, NY 10019
(Address of Principal Executive Offices) (Zip Code)
(212) 515-3450
(Registrants telephone number, including area code)
None
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 | Other Events |
On May 23, 2012, Apollo Investment Corporation issued a press release. A copy of the Registrants press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information disclosed under this Item 8.01 is being furnished and shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934 and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, except as expressly set forth by specific reference in such filing.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit |
Exhibit | |
99.1 | Press Release, dated May 23, 2012. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
APOLLO INVESTMENT CORP. | ||||
By: | /s/ Joseph D. Glatt | |||
Name: | Joseph D. Glatt | |||
Title: | Secretary |
Date: May 24, 2012
INDEX TO EXHIBITS
Exhibit |
Exhibit | |
99.1 | Press Release, dated May 23, 2012. |
Exhibit 99.1
Apollo Investment Corporation
Enters New Four-Year $1.14 Billion Senior Secured Revolving Credit Facility
New York, NY May 23, 2012 Apollo Investment Corporation (NASDAQ: AINV) or the Company, Apollo Investment, we or our today announced that it has entered into a new four-year $1.14 billion senior secured revolving credit facility (the Facility). The Facility matures in May 2016, and includes a one year amortization period beginning in May 2015. The stated interest rate on the Facility is LIBOR plus 225 basis points, a 75 basis point reduction from our prior facility.
The Facility contains an accordion feature whereby it can be expanded to $1.71 billion under certain conditions. The Facility includes customary covenants, including minimum asset coverage and minimum equity requirements, as well as customary events of default.
Mr. James Zelter, Apollo Investment Corporations Chief Executive Officer, said, We are pleased to announce this new revolving credit facility which will provide us with substantial long-term liquidity and flexibility to execute our strategic objectives, while lowering our interest costs. We are extremely appreciative of the support Apollo Investment Corporation received from our existing lenders as well as from four new lenders.
J.P. Morgan Securities LLC acted as lead arranger. SunTrust Bank acted as syndication agent and JPMorgan Chase Bank, N.A., acted as administrative agent and Bank of America, N.A., as documentation agent.
About Apollo Investment Corporation
Apollo Investment Corporation (NASDAQ: AINV) is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company provides private debt market solutions to middle market companies in the form of senior secured, mezzanine and asset based loans and may also acquire equity interests. The Company seeks to provide private financing solutions for private companies that do not have access to the more traditional providers of credit. Apollo Investment Corporation is managed by Apollo Investment Management, L.P., an affiliate of Apollo Global Management, LLC, a leading global alternative investment manager. For more information, please visit http://www.apolloic.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, including, but not limited to, statements as to our future operating results; our business prospects and the prospects of our portfolio companies; the impact of investments that we expect to make; the dependence of our future success on the general economy and its impact on the industries in which we invest; the ability of our portfolio companies to achieve their objectives; our expected financings and investments; the adequacy of our cash resources and working capital; and the timing of cash flows, if any, from the operations of our portfolio companies.
1
We may use words such as anticipates, believes, expects, intends, will, should, may and similar expressions to identify forward-looking statements. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations. Undue reliance should not be placed on such forward-looking statements as such statements speak only as of the date on which they are made. We do not undertake to update our forward-looking statements unless required by law.
Contact
Elizabeth Besen
Investor Relations Manager
Apollo Investment Corporation
(212) 822-0625
ebesen@apolloic.com
SOURCE: Apollo Investment Corporation
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