Apollo Senior Floating Rate Fund Inc.
|
||||
Schedule of Investments
|
||||
March 31, 2020 (unaudited)
|
||||
|
|
Principal
|
|
|
|
|
Amount ($)
|
|
Value ($)
|
|
|
|
|
|
Senior Loans - 150.2%(a)
|
|
|
|
|
AEROSPACE & DEFENSE - 7.4%
|
|
|
|
|
Bleriot US Bidco, Inc.
|
|
|
|
|
First Lien Delayed Draw Term Loan, (Prime + 3.75%, 0.00% Floor), 7.00%, 10/31/26(c)
|
412,154
|
|
364,757
|
|
First Lien Term Loan, (3M LIBOR + 4.75%, 0.00% Floor), 6.20%, 10/30/26(c)
|
2,637,789
|
|
2,334,443
|
|
Guidehouse, LLP
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 4.50%, 0.00% Floor), 5.49%, 05/01/25(c)
|
2,882,840
|
|
2,363,928
|
|
Kestrel Bidco, Inc. (Canada)
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 3.00%, 1.00% Floor), 4.00%, 12/11/26(c)(e)
|
3,023,351
|
|
2,471,589
|
|
Maxar Technologies, Ltd. (Canada)
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 2.75%, 0.00% Floor), 3.74%, 10/04/24(b)(c)(d)(e)
|
2,686,915
|
|
2,418,224
|
|
MRO Holdings, Inc.
|
|
|
|
|
First Lien Term Loan B, (3M LIBOR + 5.00%, 0.00% Floor), 6.45%, 06/04/26(c)
|
3,885,471
|
|
3,163,434
|
|
PAE Holding Corp.
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 5.50%, 1.00% Floor), 6.50%, 10/20/22(c)
|
1,731,847
|
|
1,593,300
|
|
Second Lien Term Loan, (1M LIBOR + 9.50%, 1.00% Floor), 10.50%, 10/20/23(c)(d)
|
642,645
|
|
582,108
|
|
|
|
|
|
15,291,783
|
AUTOMOTIVE - 2.2%
|
|
|
|
|
APC Automotive Technologies, LLC
|
|
|
|
|
First Lien Term Loan A-1, (1.00% PIK), (6M LIBOR + 5.00%, 1.00% Floor), 6.72%, 05/09/25(c)(f)
|
5,065,078
|
|
4,009,845
|
|
First Lien Term Loan B, (6M LIBOR + 5.00%, 1.00% Floor), 6.72%, 05/10/24(c)(d)
|
1,578,175
|
|
522,770
|
|
|
|
|
|
4,532,615
|
BANKING, FINANCE, INSURANCE & REAL ESTATE - 13.8%
|
|
|
|
|
AIS Holdco, LLC
|
|
|
|
|
First Lien Term Loan, (3M LIBOR + 5.00%, 0.00% Floor), 6.78%, 08/15/25(c)(d)
|
2,138,889
|
|
1,700,416
|
|
Alliant Holdings Intermediate, LLC
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 3.25%, 0.00% Floor), 3.86%, 05/09/25(c)
|
6,832,511
|
|
6,275,662
|
|
AssuredPartners, Inc.
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 3.50%, 0.00% Floor), 4.49%, 02/12/27(b)(c)
|
1,995,000
|
|
1,760,588
|
|
Asurion, LLC
|
|
|
|
|
First Lien Term Loan B4, (1M LIBOR + 3.00%, 0.00% Floor), 3.99%, 08/04/22(c)
|
699,034
|
|
669,905
|
|
First Lien Term Loan B6, (1M LIBOR + 3.00%, 0.00% Floor), 3.99%, 11/03/23(c)
|
4,434,748
|
|
4,279,532
|
|
First Lien Term Loan B7, (1M LIBOR + 3.00%, 0.00% Floor), 3.99%, 11/03/24(c)
|
869,420
|
|
838,990
|
|
Second Lien Term Loan B2, (1M LIBOR + 6.50%, 0.00% Floor), 7.49%, 08/04/25(c)
|
2,136,429
|
|
1,980,203
|
|
Edelman Financial Center, LLC
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 3.25%, 0.00% Floor), 4.18%, 07/21/25(c)
|
4,645,598
|
|
4,001,021
|
|
Second Lien Term Loan, (1M LIBOR + 6.75%, 0.00% Floor), 7.68%, 07/20/26(c)
|
911,369
|
|
702,665
|
|
NFP Corp.
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 3.25%, 0.00% Floor), 4.24%, 02/15/27(b)(c)
|
3,283,702
|
|
2,856,821
|
|
Sedgwick Claims Management Services, Inc.
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 4.00%, 0.00% Floor), 4.99%, 09/03/26(c)
|
3,852,794
|
|
3,518,082
|
|
|
|
|
|
28,583,885
|
BEVERAGE, FOOD & TOBACCO - 3.0%
|
|
|
|
|
Froneri US, Inc. (United Kingdom)
|
|
|
|
|
First Lien Term Loan B-2, (1M LIBOR + 2.25%, 0.00% Floor), 3.24%, 01/29/27(b)(c)(e)
|
2,740,973
|
|
2,631,334
|
|
Second Lien Term Loan, (1M LIBOR + 5.75%, 0.00% Floor), 6.74%, 01/31/28(b)(c)(e)
|
559,322
|
|
531,356
|
|
Winebow Holdings, Inc.
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 3.75%, 1.00% Floor), 4.75%, 07/01/21(c)
|
4,011,333
|
|
3,130,645
|
|
|
|
|
|
6,293,335
|
CAPITAL EQUIPMENT - 3.2%
|
|
|
|
|
Gardner Denver, Inc.
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 1.75%, 0.00% Floor), 2.74%, 03/01/27(c)
|
2,486,014
|
|
2,352,391
|
|
Safe Fleet Holdings, LLC
|
|
|
|
|
First Lien Term Loan, (6M LIBOR + 3.00%, 1.00% Floor), 4.00%, 02/03/25(c)
|
3,721,148
|
|
3,162,976
|
|
Second Lien Term Loan, (6M LIBOR + 6.75%, 1.00% Floor), 7.75%, 02/02/26(c)
|
1,403,846
|
|
1,105,529
|
|
|
|
|
|
6,620,896
|
CHEMICALS, PLASTICS, & RUBBER - 7.6%
|
|
|
|
|
Archroma Finance S.A.R.L (Luxembourg)
|
|
|
|
|
First Lien Term Loan B-2, (3M LIBOR + 4.25%, 0.00% Floor), 6.10%, 08/12/24(b)(c)(e)
|
4,410,553
|
|
3,903,339
|
|
Perstorp Holding AB (Sweden)
|
|
|
|
|
First Lien Term Loan, (6M LIBOR + 4.75%, 0.00% Floor), 5.82%, 02/27/26(c)(e)
|
2,813,919
|
|
2,262,855
|
|
Polar US Borrower, LLC
|
|
|
|
|
First Lien Term Loan, (1M / 3M LIBOR + 4.75%, 0.00% Floor), 6.61%, 10/15/25(c)
|
1,994,950
|
|
1,760,543
|
|
Starfruit US Holdco, LLC (Netherlands)
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 3.00%, 0.00% Floor), 3.86%, 10/01/25(c)(e)
|
4,864,765
|
|
4,414,774
|
|
Tronox Finance, LLC
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 2.75%, 0.00% Floor), 3.93%, 09/23/24(c)
|
3,780,459
|
|
3,364,608
|
|
|
|
|
|
15,706,119
|
CONSTRUCTION & BUILDING - 3.0%
|
|
|
|
|
Associated Asphalt Partners, LLC
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 5.25%, 1.00% Floor), 6.25%, 04/05/24(c)
|
5,191,538
|
|
3,763,865
|
|
Pisces Midco, Inc.
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 3.75%, 0.00% Floor), 4.56%, 04/12/25(c)
|
2,969,773
|
|
2,546,581
|
|
|
|
|
|
6,310,446
|
CONSUMER GOODS: NON-DURABLE - 3.2%
|
|
|
|
|
Coty, Inc.
|
|
|
|
|
First Lien Term Loan A, (1M LIBOR + 1.50%, 0.00% Floor), 2.51%, 04/05/23(c)(d)
|
1,883,355
|
|
1,497,267
|
|
Kronos Acquisition Holdings, Inc. (Canada)
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 4.00%, 1.00% Floor), 5.00%, 05/15/23(c)(e)
|
5,778,514
|
|
5,227,157
|
|
|
|
|
|
6,724,424
|
CONTAINERS, PACKAGING & GLASS - 2.0%
|
|
|
|
|
Anchor Glass Container Corp.
|
|
|
|
|
First Lien Term Loan, (1M / 3M LIBOR + 2.75%, 1.00% Floor), 3.78%, 12/07/23(c)
|
3,969,388
|
|
2,302,245
|
|
Strategic Materials Holding Corp.
|
|
|
|
|
First Lien Term Loan, (3M LIBOR + 3.75%, 1.00% Floor), 5.51%, 11/01/24(c)
|
2,842,001
|
|
1,776,251
|
|
|
|
|
|
4,078,496
|
ENERGY: OIL & GAS - 0.3%
|
|
|
|
|
Ascent Resources - Marcellus, LLC
|
|
|
|
|
First Lien Term Loan A, (1M LIBOR + 6.50%, 1.00% Floor), 7.50%, 03/30/23(c)
|
452,027
|
|
401,174
|
|
RDV Resources, Inc.
|
|
|
|
|
First Lien Term Loan, (2.00% PIK), (3M LIBOR + 6.50%, 1.00% Floor), 7.50%, 03/31/24(c)(d)(f)
|
423,949
|
|
126,888
|
|
|
|
|
|
528,062
|
HEALTHCARE & PHARMACEUTICALS - 13.5%
|
|
|
|
|
Amneal Pharmaceuticals, LLC
|
|
|
|
|
First Lien Initial Term Loan, (1M LIBOR + 3.50%, 0.00% Floor), 4.50%, 05/04/25(b)(c)
|
1,496,192
|
|
1,299,196
|
|
Bausch Health Companies, Inc.
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 2.75%, 0.00% Floor), 3.36%, 11/27/25(c)
|
680,000
|
|
649,400
|
|
BioClinica Holding I, LP
|
|
|
|
|
First Lien Initial Term Loan, (1M LIBOR + 4.25%, 1.00% Floor), 5.25%, 10/20/23(c)
|
4,646,272
|
|
3,953,211
|
|
BW NHHC HoldCo, Inc.
|
|
|
|
|
First Lien Term Loan, (3M LIBOR + 5.00%, 0.00% Floor), 6.62%, 05/15/25(c)
|
2,963,978
|
|
1,822,847
|
|
Endo International PLC
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 4.25%, 0.75% Floor), 5.25%, 04/29/24(c)
|
5,469,589
|
|
4,949,978
|
|
Hanger, Inc.
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 3.50%, 0.00% Floor), 4.49%, 03/06/25(c)
|
2,326,348
|
|
2,035,554
|
|
Inovalon Holdings, Inc.
|
|
|
|
|
First Lien Term Loan B1, (1M LIBOR + 3.00%, 0.00% Floor), 3.75%, 04/02/25(b)(c)
|
3,178,010
|
|
2,955,549
|
|
Lanai Holdings III, Inc.
|
|
|
|
|
First Lien Term Loan B, (3M LIBOR + 4.75%, 1.00% Floor), 6.53%, 08/29/22(c)
|
1,994,792
|
|
1,468,256
|
|
Second Lien Term Loan, (3M LIBOR + 8.50%, 1.00% Floor), 10.28%, 08/28/23(c)(d)
|
869,565
|
|
719,130
|
|
Loire Finco Luxembourg S.A R.L. (United Kingdom)
|
|
|
|
|
First Lien Term Loan, (3M LIBOR + 3.50%, 0.00% Floor), 3.50%, 01/22/27(b)(c)(e)
|
1,504,274
|
|
1,318,744
|
|
Parexel International Corp.
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 2.75%, 0.00% Floor), 3.74%, 09/27/24(c)
|
2,000,000
|
|
1,727,500
|
|
Pluto Acquisition I, Inc.
|
|
|
|
|
First Lien Term Loan, (3M LIBOR + 5.00%, 0.00% Floor), 6.82%, 06/22/26(c)
|
2,133,702
|
|
1,824,315
|
|
Team Health Holdings, Inc.
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 2.75%, 1.00% Floor), 3.75%, 02/06/24(b)(c)
|
5,037,436
|
|
3,249,146
|
|
|
|
|
|
27,972,826
|
HIGH TECH INDUSTRIES - 25.2%
|
|
|
|
|
Aspect Software, Inc.
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 5.00%, 1.00% Floor), 6.00%, 01/15/24(b)(c)
|
3,659,343
|
|
2,890,881
|
|
Boxer Parent Company, Inc.
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 4.25%, 0.00% Floor), 5.24%, 10/02/25(c)
|
2,487,406
|
|
2,091,597
|
|
Electronics for Imaging, Inc.
|
|
|
|
|
First Lien Term Loan, (3M LIBOR + 5.00%, 0.00% Floor), 6.45%, 07/23/26(c)
|
5,299,875
|
|
4,213,400
|
|
Flexera Software, LLC
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 3.50%, 1.00% Floor), 4.50%, 02/26/25(c)
|
3,436,229
|
|
3,135,559
|
|
Helios Software Holdings, Inc.
|
|
|
|
|
First Lien Term Loan, (6M LIBOR + 4.25%, 0.00% Floor), 5.32%, 10/24/25(c)
|
1,863,739
|
|
1,605,919
|
|
Imperva, Inc.
|
|
|
|
|
First Lien Term Loan, (3M LIBOR + 4.00%, 1.00% Floor), 5.70%, 01/12/26(c)
|
4,764,943
|
|
3,946,945
|
|
ION Trading Technologies S.A.R.L (United Kingdom)
|
|
|
|
|
First Lien Term Loan, (6M LIBOR + 4.00%, 1.00% Floor), 5.07%, 11/21/24(b)(c)(e)
|
5,727,151
|
|
4,772,635
|
|
Ivanti Software, Inc.
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 4.25%, 1.00% Floor), 5.25%, 01/20/24(c)
|
3,892,763
|
|
3,464,559
|
|
Red Ventures, LLC
|
|
|
|
|
First Lien Term Loan B-2, (1M LIBOR + 2.50%, 0.00% Floor), 3.49%, 11/08/24(c)
|
5,933,433
|
|
5,201,633
|
|
Riverbed Technology, Inc.
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 3.25%, 1.00% Floor), 4.25%, 04/24/22(b)(c)
|
4,762,266
|
|
3,153,502
|
|
Surf Intermediate I, Ltd.
|
|
|
|
|
First Lien Term Loan B, (3M LIBOR + 3.50%, 0.00% Floor), 4.81%, 03/05/27(b)(c)
|
7,135,462
|
|
6,404,077
|
|
Syncsort, Inc.
|
|
|
|
|
First Lien Incremental Term Loan B, (3M LIBOR + 6.00%, 1.00% Floor), 7.58%, 08/16/24(c)
|
1,341,175
|
|
1,086,352
|
|
First Lien Term Loan B, (3M LIBOR + 6.25%, 0.00% Floor), 7.86%, 08/16/24(c)
|
653,804
|
|
529,581
|
|
Second Lien Term Loan, (3M LIBOR + 9.00%, 1.00% Floor), 10.61%, 08/18/25(c)
|
2,500,000
|
|
1,937,500
|
|
Vertafore, Inc.
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 3.25%, 0.00% Floor), 4.24%, 07/02/25(c)
|
4,278,921
|
|
3,817,247
|
|
Second Lien Term Loan, (1M LIBOR + 7.25%, 0.00% Floor), 8.24%, 07/02/26(c)
|
1,234,301
|
|
1,082,482
|
|
Vertiv Group Corp.
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 3.00%, 0.00% Floor), 4.58%, 03/02/27(b)(c)
|
3,042,748
|
|
2,768,901
|
|
|
|
|
|
52,102,770
|
HOTEL, GAMING & LEISURE - 2.2%
|
|
|
|
|
Cineworld Group PLC (Canada)
|
|
|
|
|
First Lien Incremental Term Loan, (LIBOR + 3.00%, 0.00% Floor), 3.00%, 02/05/27(b)(c)(e)
|
2,611,961
|
|
1,776,133
|
|
Scientific Games International, Inc.
|
|
|
|
|
First Lien Term Loan B-5, (1M / 2M LIBOR + 2.75%, 0.00% Floor), 4.25%, 08/14/24(b)(c)
|
3,491,094
|
|
2,833,599
|
|
|
|
|
|
4,609,732
|
MEDIA: ADVERTISING, PRINTING & PUBLISHING - 2.9%
|
|
|
|
|
Advantage Sales & Marketing, Inc.
|
|
|
|
|
First Lien Incremental Term Loan B, (3M LIBOR + 3.25%, 1.00% Floor), 4.70%, 07/23/21(c)
|
3,015,173
|
|
2,462,386
|
|
First Lien Term Loan, (3M LIBOR + 3.25%, 1.00% Floor), 4.70%, 07/23/21(c)
|
4,434,297
|
|
3,591,780
|
|
F & W Media, Inc.
|
|
|
|
|
First Lien Term Loan B-1, (LIBOR + 6.50%, 1.50% Floor), 8.00%, 05/24/22(c)(d)(g)(m)
|
361,023
|
|
–
|
|
First Lien Term Loan B-2, (LIBOR + 10.00%, 1.50% Floor), 11.50%, 05/24/22(c)(d)(g)(m)
|
1,076,345
|
|
–
|
|
|
|
|
|
6,054,166
|
MEDIA: BROADCASTING & SUBSCRIPTION - 12.4%
|
|
|
|
|
CSC Holdings, LLC
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 2.25%, 0.00% Floor), 2.86%, 01/15/26(c)
|
1,347,500
|
|
1,300,337
|
|
First Lien Term Loan B5, (1M LIBOR + 2.50%, 0.00% Floor), 3.11%, 04/15/27(c)
|
1,731,573
|
|
1,676,734
|
|
Global Eagle Entertainment, Inc.
|
|
|
|
|
First Lien Term Loan, (3M LIBOR + 7.50%, 1.00% Floor), 9.38%, 01/06/23(c)
|
6,322,717
|
|
4,141,380
|
|
Nexstar Broadcasting, Inc.
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 2.75%, 0.00% Floor), 4.33%, 09/18/26(c)
|
2,451,354
|
|
2,311,626
|
|
Radiate Holdco, LLC
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 3.00%, 0.75% Floor), 3.99%, 02/01/24(c)
|
1,122,083
|
|
1,049,147
|
|
Univision Communications, Inc.
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 2.75%, 1.00% Floor), 3.75%, 03/15/24(c)
|
4,455,459
|
|
3,834,480
|
|
Urban One, Inc.
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 4.00%, 1.00% Floor), 5.00%, 04/18/23(c)
|
1,349,428
|
|
994,083
|
|
WideOpenWest Finance, LLC
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 3.25%, 1.00% Floor), 4.25%, 08/18/23(b)(c)
|
997,442
|
|
930,115
|
|
William Morris Endeavor Entertainment, LLC
|
|
|
|
|
First Lien Term Loan B, (1M / 3M LIBOR + 2.75%, 0.00% Floor), 4.04%, 05/18/25(b)(c)
|
7,016,882
|
|
5,631,048
|
|
Ziggo Financing Partnership (Netherlands)
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 2.50%, 0.00% Floor), 3.20%, 04/30/28(b)(c)(e)
|
4,000,000
|
|
3,820,000
|
|
|
|
|
|
25,688,950
|
MEDIA: DIVERSIFIED & PRODUCTION - 1.5%
|
|
|
|
|
Learfield Communications, LLC
|
|
|
|
|
First Lien Initial Term Loan, (1M LIBOR + 3.25%, 1.00% Floor), 4.25%, 12/01/23(c)
|
4,464,506
|
|
3,043,298
|
|
RETAIL - 8.7%
|
|
|
|
|
Charming Charlie, LLC
|
|
|
|
|
First Lien Delayed Draw Term Loan, 20.00%, 05/15/20(d)(h)(i)(m)
|
196,013
|
|
32,655
|
|
First Lien Term Loan A, (LIBOR + 5.00%, 1.00% Floor), 6.00%, 04/24/23(c)(d)(h)(m)
|
868,743
|
|
–
|
|
First Lien Term Loan B, (LIBOR + 1.00%, 1.00% Floor), 2.00%, 04/24/23(c)(d)(h)(m)
|
1,063,663
|
|
–
|
|
Vendor Payment Term Loan, 20.00%, 05/15/20(d)(h)(i)(m)
|
35,263
|
|
5,874
|
|
EG America, LLC
|
|
|
|
|
First Lien Term Loan, (6M LIBOR + 4.00%, 0.00% Floor), 5.07%, 02/07/25(c)
|
5,908,909
|
|
4,396,229
|
|
General Nutrition Centers, Inc.
|
|
|
|
|
First Lien FILO Term Loan, (1M LIBOR + 7.00%, 0.00% Floor), 7.99%, 12/31/22(c)
|
3,072,350
|
|
2,686,402
|
|
Petco Animal Supplies, Inc.
|
|
|
|
|
First Lien Second Amendment Term Loan B1, (3M LIBOR + 3.25%, 1.00% Floor), 5.03%, 01/26/23(c)
|
5,473,539
|
|
3,836,951
|
|
PetSmart, Inc.
|
|
|
|
|
First Lien Term Loan B-2, (6M LIBOR + 4.00%, 1.00% Floor), 5.00%, 03/11/22(c)
|
7,361,793
|
|
7,079,321
|
|
|
|
|
|
18,037,432
|
SERVICES: BUSINESS - 18.0%
|
|
|
|
|
AQ Carver Buyer, Inc.
|
|
|
|
|
First Lien Term Loan, (3M LIBOR + 5.00%, 1.00% Floor), 6.45%, 09/23/25(c)(d)
|
1,088,057
|
|
843,244
|
|
Carestream Health, Inc.
|
|
|
|
|
First Lien Term Loan, (6M LIBOR + 6.25%, 1.00% Floor), 7.32%, 02/28/21(b)(c)
|
630,824
|
|
580,989
|
|
Second Lien Extended Term Loan, (1.00% PIK), (6M LIBOR + 10.50%, 1.00% Floor), 11.57%, 06/07/21(c)(f)
|
2,169,934
|
|
1,871,568
|
|
Creative Artists Agency, LLC
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 3.75%, 0.00% Floor), 4.74%, 11/27/26(c)
|
878,649
|
|
792,981
|
|
Deerfield Dakota Holding, LLC
|
|
|
|
|
First Lien Term Loan B, (LIBOR + 3.75%, 1.00% Floor), 4.75%, 04/09/27(b)(c)
|
2,000,000
|
|
1,720,000
|
|
DG Investment Intermediate Holdings 2, Inc.
|
|
|
|
|
First Lien Incremental Term Loan, (1M LIBOR + 3.75%, 0.75% Floor), 4.74%, 02/03/25(c)
|
1,868,450
|
|
1,616,209
|
|
First Lien Term Loan, (1M LIBOR + 3.00%, 0.75% Floor), 3.99%, 02/03/25(c)
|
1,977,511
|
|
1,690,772
|
|
DTI Holdco, Inc.
|
|
|
|
|
First Lien Term Loan B, (3M LIBOR + 4.75%, 1.00% Floor), 6.53%, 09/29/23(c)
|
4,809,146
|
|
3,462,585
|
|
Electro Rent Corp.
|
|
|
|
|
First Lien Term Loan, (3M LIBOR + 5.00%, 1.00% Floor), 6.80%, 01/31/24(b)(c)
|
2,847,579
|
|
2,390,428
|
|
Ensemble RCM, LLC
|
|
|
|
|
First Lien Term Loan, (3M LIBOR + 3.75%, 0.00% Floor), 5.51%, 08/03/26(c)
|
2,743,576
|
|
2,541,237
|
|
Envision Healthcare Corp.
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 3.75%, 0.00% Floor), 4.74%, 10/10/25(c)
|
2,350,303
|
|
1,259,374
|
|
Evergreen Skills Lux S.A.R.L.
|
|
|
|
|
First Lien Term Loan, (3M LIBOR + 4.75%, 1.00% Floor), 6.53%, 04/28/21(c)
|
2,979,056
|
|
1,966,177
|
|
Second Lien Term Loan, (3M LIBOR + 8.25%, 1.00% Floor), 10.03%, 04/28/22(c)
|
1,000,000
|
|
180,715
|
|
Garda World Security Corp. (Canada)
|
|
|
|
|
First Lien Term Loan B, (3M LIBOR + 4.75%, 0.00% Floor), 6.39%, 10/30/26(b)(c)(e)
|
5,353,721
|
|
5,112,804
|
|
Packers Holdings, LLC
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 3.25%, 1.00% Floor), 4.25%, 12/04/24(b)(c)
|
2,984,733
|
|
2,559,408
|
|
Refinitiv US Holdings, Inc.
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 3.25%, 0.00% Floor), 4.24%, 10/01/25(b)(c)
|
5,716,095
|
|
5,518,403
|
|
SGS Cayman, L.P.
|
|
|
|
|
First Lien Term Loan B, (3M LIBOR + 5.38%, 1.00% Floor), 6.83%, 04/23/21(c)
|
596,318
|
|
444,257
|
|
STG-Fairway Acquisitions, Inc.
|
|
|
|
|
First Lien Term Loan, (6M LIBOR + 3.50%, 0.00% Floor), 4.57%, 01/31/27(c)
|
903,346
|
|
781,394
|
|
Sutherland Global Services, Inc.
|
|
|
|
|
First Lien Term Loan, (3M LIBOR + 5.38%, 1.00% Floor), 6.83%, 04/23/21(c)
|
2,561,210
|
|
1,908,102
|
|
|
|
|
|
37,240,647
|
SERVICES: CONSUMER - 1.6%
|
|
|
|
|
Nascar Holdings, LLC
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 2.75%, 0.00% Floor), 3.67%, 10/19/26(b)(c)
|
1,180,645
|
|
1,050,774
|
|
USS Ultimate Holdings, Inc.
|
|
|
|
|
First Lien Term Loan, (6M LIBOR + 3.75%, 1.00% Floor), 5.67%, 08/25/24(c)
|
2,549,604
|
|
2,218,155
|
|
|
|
|
|
3,268,929
|
TELECOMMUNICATIONS - 15.3%
|
|
|
|
|
CenturyLink, Inc.
|
|
|
|
|
First Lien Term Loan A, (1M LIBOR + 2.00%, 0.00% Floor), 2.99%, 01/31/25(b)(c)
|
723,419
|
|
678,809
|
|
First Lien Term Loan B, (1M LIBOR + 2.25%, 0.00% Floor), 3.24%, 03/15/27(b)(c)
|
5,952,590
|
|
5,591,744
|
|
Flight Bidco, Inc.
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 3.50%, 0.00% Floor), 4.49%, 07/23/25(c)
|
3,621,209
|
|
3,078,028
|
|
Intelsat Jackson Holdings S.A. (Luxembourg)
|
|
|
|
|
First Lien Fixed Term Loan B5, 6.63%, 01/02/24(b)(e)(i)
|
4,984,426
|
|
4,679,130
|
|
First Lien Term Loan B3, (6M LIBOR + 3.75%, 1.00% Floor), 5.68%, 11/27/23(c)(e)
|
1,188,001
|
|
1,101,128
|
|
First Lien Term Loan B4, (6M LIBOR + 4.50%, 1.00% Floor), 6.43%, 01/02/24(c)(e)
|
5,444,878
|
|
5,074,626
|
|
TierPoint, LLC
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 3.75%, 1.00% Floor), 4.75%, 05/06/24(c)
|
2,037,227
|
|
1,828,411
|
|
U.S. TelePacific Corp.
|
|
|
|
|
First Lien Term Loan B, (6M LIBOR + 6.00%, 1.00% Floor), 7.07%, 05/02/23(c)
|
4,784,808
|
|
3,732,150
|
|
Zacapa, LLC (Luxembourg)
|
|
|
|
|
First Lien Term Loan B, (6M LIBOR + 4.50%, 0.00% Floor), 5.57%, 07/02/25(c)(e)
|
3,166,903
|
|
2,907,613
|
|
Zayo Group Holdings, Inc.
|
|
|
|
|
First Lien Initial Dollar Term Loan, (1M LIBOR + 3.00%, 0.00% Floor), 3.99%, 03/09/27(c)
|
3,159,858
|
|
3,001,865
|
|
|
|
|
|
31,673,504
|
TRANSPORTATION: CONSUMER - 1.1%
|
|
|
|
|
Atlantic Aviation FBO, Inc.
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 3.75%, 0.00% Floor), 4.74%, 12/06/25(b)(c)
|
854,979
|
|
820,779
|
|
Travel Leaders Group, LLC
|
|
|
|
|
First Lien Term Loan B, (1M LIBOR + 4.00%, 0.00% Floor), 4.96%, 01/25/24(c)
|
1,977,349
|
|
1,519,266
|
|
|
|
|
|
2,340,045
|
UTILITIES: ELECTRIC - 2.1%
|
|
|
|
|
Brookfield WEC Holdings, Inc.
|
|
|
|
|
First Lien Term Loan, (1M LIBOR + 3.00%, 0.75% Floor), 3.99%, 08/01/25(c)
|
4,456,183
|
|
4,250,085
|
|
Total Senior Loans
|
|
|
|
|
(Cost $364,836,223)
|
|
|
310,952,445
|
|
|
|
|
|
|
Corporate Notes and Bonds - 6.2%
|
|
|
|
|
AEROSPACE & DEFENSE - 0.5%
|
|
|
|
|
Transdigm, Inc.
|
|
|
|
|
6.25%, 03/15/26(i)(j)
|
1,000,000
|
|
1,000,622
|
|
BANKING, FINANCE, INSURANCE & REAL ESTATE - 1.0%
|
|
|
|
|
Alliant Holdings Intermediate, LLC
|
|
|
|
|
6.75%, 10/15/27(i)(j)
|
951,000
|
|
895,794
|
|
GTCR AP Finance, Inc.
|
|
|
|
|
8.00%, 05/15/27(i)(j)
|
300,000
|
|
278,563
|
|
NFP Corp.
|
|
|
|
|
6.88%, 07/15/25(i)(j)
|
1,000,000
|
|
947,500
|
|
|
|
|
|
2,121,857
|
ENERGY: OIL & GAS - 0.6%
|
|
|
|
|
Moss Creek Resources Holdings, Inc.
|
|
|
|
|
7.50%, 01/15/26(i)(j)
|
3,573,000
|
|
1,066,691
|
|
10.50%, 05/15/27(i)(j)
|
553,000
|
|
184,449
|
|
|
|
|
|
1,251,140
|
HEALTHCARE & PHARMACEUTICALS - 0.7%
|
|
|
|
|
Bausch Health Companies, Inc.
|
|
|
|
|
6.50%, 03/15/22(i)(j)
|
1,500,000
|
|
1,520,625
|
|
HIGH TECH INDUSTRIES - 0.6%
|
|
|
|
|
Riverbed Technology, Inc.
|
|
|
|
|
8.88%, 03/01/23(i)(j)
|
1,793,000
|
|
1,181,139
|
|
MEDIA: BROADCASTING & SUBSCRIPTION - 0.7%
|
|
|
|
|
CSC Holdings, LLC
|
|
|
|
|
5.38%, 02/01/28(i)(j)
|
1,000,000
|
|
1,026,967
|
|
Univision Communications, Inc.
|
|
|
|
|
5.13%, 02/15/25(i)(j)
|
473,000
|
|
406,780
|
|
|
|
|
|
1,433,747
|
METALS & MINING - 0.0%
|
|
|
|
|
ERP Iron Ore, LLC
|
|
|
|
|
LIBOR + 8.00%, 12/31/19(d)(k)(m)
|
18,879
|
|
–
|
|
Magnetation, LLC / Mag Finance Corp.
|
|
|
|
|
11.00%, 05/15/18(d)(i)(j)(l)(m)
|
639,000
|
|
–
|
|
|
|
|
|
–
|
RETAIL - 0.4%
|
|
|
|
|
EG Global Finance PLC (United Kingdom)
|
|
|
|
|
8.50%, 10/30/25(e)(i)(j)
|
1,000,000
|
|
896,255
|
|
TELECOMMUNICATIONS - 1.7%
|
|
|
|
|
Front Range Bidco, Inc.
|
|
|
|
|
4.00%, 03/01/27(i)(j)
|
271,000
|
|
260,838
|
|
Orbcomm, Inc.
|
|
|
|
|
8.00%, 04/01/24(i)(j)
|
3,194,000
|
|
3,134,113
|
|
|
|
|
|
3,394,951
|
Total Corporate Notes and Bonds
|
|
|
|
|
(Cost $16,463,515)
|
|
|
12,800,336
|
|
|
|
|
|
|
Common Stocks - 1.0%
|
Share Quantity
|
|
Value ($)
|
|
BANKING, FINANCE, INSURANCE & REAL ESTATE - 0.9%
|
|
|
|
|
Medical Card System, Inc.(d)(m)
|
991,230
|
|
1,819,110
|
|
ENERGY: OIL & GAS - 0.1%
|
|
|
|
|
Ascent Resources Marcellus Holdings, Inc.(d)(m)
|
324,739
|
|
145,950
|
|
HGIM Corp.(d)(m)
|
9,820
|
|
76,925
|
|
RDV Resources, Inc.(d)(m)
|
28,252
|
|
–
|
|
Southcross Holdings Borrower, L.P. Class A-II(d)
|
129
|
|
–
|
|
Southcross Holdings Borrower, GP LLC(d)(m)
|
129
|
|
–
|
|
|
|
|
|
222,875
|
MEDIA: ADVERTISING, PRINTING & PUBLISHING - 0.0%
|
|
|
|
|
Acosta, Inc.(d)(m)
|
3,133
|
|
27,644
|
|
F & W Media, Inc.(d)(g)(m)
|
9,511
|
|
–
|
|
|
|
|
|
27,644
|
RETAIL - 0.0%
|
|
|
|
|
Charming Charlie, LLC(d)(h)(m)
|
8,890,519
|
|
–
|
|
Total Common Stocks
|
|
|
|
|
(Cost $2,052,436)
|
|
|
2,069,629
|
|
|
|
|
|
|
Preferred Stocks - 0.5%
|
|
|
|
|
BANKING, FINANCE, INSURANCE & REAL ESTATE - 0.4%
|
|
|
|
|
Watford Holdings, Ltd. (Bermuda)
|
|
|
|
|
(3M LIBOR + 6.68%, 1.00% Floor), 8.62%(e)
|
946,575
|
|
908,712
|
|
MEDIA: ADVERTISING, PRINTING & PUBLISHING - 0.1%
|
|
|
|
|
Acosta, Inc., (14.50% PIK), 14.50%(d)(f)(i)
|
2,526
|
|
170,417
|
|
Total Preferred Stocks
|
|
|
|
|
(Cost $1,098,067)
|
|
|
1,079,129
|
|
|
|
|
|
|
Warrants - 0.0%
|
|
|
|
|
ENERGY: OIL & GAS - 0.0%
|
|
|
|
|
Ascent Resources Marcellus Holdings, Inc.(d)(m)
|
84,077
|
|
254
|
|
Total Warrants
|
|
|
|
|
(Cost $8,408)
|
|
|
254
|
|
|
|
|
|
|
Total Investments - 157.9%
|
|
|
|
|
(Cost of $384,458,649)
|
|
|
326,901,793
|
|
Other Assets & Liabilities, Net - 0.5%
|
|
|
978,473
|
|
Loan Outstanding - (58.4)% (n)(o)
|
|
|
(120,844,354)
|
|
Net Assets (Applicable to Common Shares) - 100.0%
|
|
|
207,035,912
|
|
|
|
|
|
|
(a)
|
“Senior Loans” are senior, secured loans made to companies whose debt is below investment grade as well as investments with similar economic characteristics. Senior Loans typically hold a first lien priority and,
unless otherwise indicated, are required to pay interest at floating rates that are periodically reset by reference to a base lending rate plus a spread. In some instances, the rates shown represent the weighted average rate as of March 31,
2020. Senior Loans are generally not registered under the Securities Act of 1933 (the “1933 Act”) and often incorporate certain restrictions on resale and cannot be sold publicly. Senior Loans often require prepayments from excess cash flow
or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual maturity may be substantially less
than the stated maturity.
|
||||
(b)
|
All or a portion of this Senior Loan position has not settled. Full contract rates do not take effect until settlement date and therefore are subject to change.
|
||||
(c)
|
The interest rate on this Senior Loan is subject to a base lending rate plus a spread. These base lending rates are primarily the London Interbank Offered Rate (“LIBOR”) and secondarily the prime rate offered by one
or more major U.S. banks (“Prime”). The interest rate is subject to a minimum floor, which may be less than or greater than the prevailing period end LIBOR/Prime rate. As of March 31, 2020, the 1, 2, 3 and 6 month LIBOR rates were 0.99%,
1.26%, 1.45% and 1.18%, respectively, and the Prime lending rate was 3.25%. Senior Loans may contain multiple contracts of the same issuer which may be subject to base lending rates of both LIBOR and Prime (“Variable”) in addition to the
stated spread.
|
||||
(d)
|
Fair Value Level 3 security.
|
|
|
|
|
(e)
|
Foreign risk exposure traded in U.S. dollars.
|
|
|
|
|
(f)
|
Represents a payment-in-kind (“PIK”) security, which may pay interest in additional principal amount/share quantity.
|
||||
(g)
|
The issuer has filed for Chapter 11 bankruptcy protection as of March 10, 2019.
|
|
|
|
|
(h)
|
The issuer has filed for Chapter 11 bankruptcy protection as of July 11, 2019.
|
|
|
|
|
(i)
|
Fixed rate asset.
|
|
|
|
|
(j)
|
Securities exempt from registration pursuant to Rule 144A under the 1933 Act. These securities may only be resold in transactions exempt from registration to qualified institutional buyers. At March 31, 2020, these
securities amounted to $12,800,336, or 6.18% of net assets.
|
||||
(k)
|
The issuer is in default of its payment obligations as of July 5, 2018.
|
|
|
|
|
(l)
|
The issuer is in default of its payment obligations as of May 5, 2015.
|
|
|
|
|
(m)
|
Non-income producing asset.
|
|
|
|
|
(n)
|
The Fund has granted a security interest in substantially all of its assets in the event of default under the credit facility.
|
||||
(o)
|
Principal of $121,000,000 less unamortized deferred financing costs of $155,646.
|
|
|
|
Apollo Senior Floating Rate Fund Inc.
|
||||||||||||||||
Total Fair Value at
March 31, 2020
|
Level 1
Quoted Price
|
Level 2
Significant
Observable Inputs
|
Level 3
Significant
Unobservable Inputs
|
|||||||||||||
Assets:
|
||||||||||||||||
Cash and Cash Equivalents
|
$
|
26,263,951
|
$
|
26,263,951
|
$
|
-
|
$
|
-
|
||||||||
Senior Loans
|
310,952,445
|
-
|
302,503,869
|
8,448,576
|
||||||||||||
Corporate Notes and Bonds
|
12,800,336
|
-
|
12,800,336
|
-
|
||||||||||||
Common Stocks
|
2,069,629
|
-
|
-
|
2,069,629
|
||||||||||||
Preferred Stocks
|
1,079,129
|
-
|
908,712
|
170,417
|
||||||||||||
Warrants
|
254
|
-
|
-
|
254
|
||||||||||||
Total Assets
|
$
|
353,165,744
|
$
|
26,263,951
|
$
|
316,212,917
|
$
|
10,688,876
|
Apollo Senior Floating Rate Fund Inc.
|
||||||||||||||||||||||||
Total
|
Senior
Loans
|
Corporate Notes
and Bonds
|
Common Stocks
|
Preferred Stock
|
Warrants
|
|||||||||||||||||||
Total Fair Value, beginning of period
|
$
|
8,806,870
|
$
|
6,969,076
|
$
|
-
|
$
|
1,664,855
|
$
|
170,417
|
$
|
2,522
|
||||||||||||
Purchases, including capitalized PIK
|
126,888
|
126,888
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Sales/Paydowns
|
(531,493
|
)
|
(523,906
|
)
|
-
|
(7,587
|
)
|
-
|
-
|
|||||||||||||||
Accretion/(amortization) of discounts/(premiums)
|
10,140
|
10,140
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Net realized gain/(loss)
|
2,678
|
2,678
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Change in net unrealized appreciation/(depreciation)
|
(832,820
|
)
|
(1,096,963
|
)
|
-
|
266,411
|
-
|
(2,268
|
)
|
|||||||||||||||
Transfers into Level 3
|
5,369,468
|
5,223,518
|
-
|
145,950
|
-
|
-
|
||||||||||||||||||
Transfers out of Level 3
|
(2,262,855
|
)
|
(2,262,855
|
)
|
-
|
-
|
-
|
-
|
||||||||||||||||
Total Fair Value, end of period
|
$
|
10,688,876
|
$
|
8,448,576
|
$
|
-
|
$
|
2,069,629
|
$
|
170,417
|
$
|
254
|
Assets
|
Fair Value at
March 31, 2020
|
Valuation Technique(s)(a)
|
Unobservable Input(s)
|
Range of
Unobservable
Input(s) Utilized
|
Weighted Average Unobservable
Input(s)
|
|||||||
Senior Loans
|
$ |
6,981,921
|
Independent pricing service and/or broker quotes
|
Vendor and/or broker quotes
|
N/A
|
N/A
|
||||||
38,529
|
Recoverability (b)
|
Estimated Proceeds (b)
|
$984k - $1.01m
|
$1.00m
|
||||||||
-
|
Recoverability (b)
|
Estimated Proceeds (b)
|
$0
|
$0
|
||||||||
719,130
|
Discounted Cash Flow (c)
|
Discount Rate (c)
|
17.45%
|
17.45%
|
||||||||
582,108
|
Discounted Cash Flow (c)
|
Discount Rate (c)
|
14.88%
|
14.88%
|
||||||||
126,888
|
Guideline Public Company (d)
|
TEV | EBITDA Multiple (d)
|
2.0x
|
2.0x
|
||||||||
Corporate Notes and Bonds
|
-
|
Recoverability (b)
|
Estimated Proceeds (b)
|
$0
|
$0
|
|||||||
Common Stocks
|
27,644
|
Transaction Approach (e)
|
TEV | EBITDA Multiple (e)
|
5.4x
|
5.4x
|
|||||||
145,950
|
Discounted Cash Flow (c)
|
Discount Rate (c)
|
14.75%
|
14.75%
|
||||||||
-
|
Recoverability (b)
|
Estimated Proceeds (b)
|
$984k-$1.01m
|
$1.00m
|
||||||||
-
|
Recoverability (b)
|
Estimated Proceeds (b)
|
$0
|
$0
|
||||||||
1,819,110
|
Guideline Public Company (d)
Transaction Approach (e)
|
TEV | EBITDA Multiple (d)(e)
|
2.5x-2.9x
|
2.6x
|
||||||||
- |
Guideline Public Company (d)
|
TEV | EBITDA Multiple (d)
|
2.0x
|
2.0x
|
||||||||
76,925
|
Independent pricing service and/or broker quotes
|
Vendor and/or broker quotes
|
N/A
|
N/A
|
||||||||
Preferred Stock
|
170,417
|
Transaction Approach (e)
|
TEV | EBITDA Multiple (e)
|
5.4x
|
5.4x
|
|||||||
Warrants
|
254
|
Option Model (f)
|
Volatility (f)
|
55.00%
|
55.00%
|
|||||||
Total Fair Value
|
$ |
10,688,876
|
||||||||||
(a)
|
For the assets which have multiple valuation techniques, the
Fund may rely on the techniques individually or in aggregate based on a weight ranging from 0-100%.
|
||||||||||
(b)
|
The Fund utilized a recoverability approach to fair value these securities, specifically a liquidation analysis. There are various, company
specific inputs used in the valuation analysis that relate to the liquidation value of a company’s assets. The significant unobservable inputs used in the valuation model were estimated proceeds. Significant increases or decreases in
the input in isolation may result in a significantly higher or lower fair value measurement.
|
||||||||||
(c)
|
The Fund utilized a discounted cash flow model to fair value this security. The significant unobservable input used in the valuation model was
the discount rate, which was determined based on the market rates an investor would expect for a similar investment with similar risks. The discount rate was applied to present value the projected cash flows in the valuation model.
Significant increases in the discount rate may significantly lower the fair value of an investment; conversely, significant decreases in the discount rate may significantly increase the fair value of an investment.
|
||||||||||
(d)
|
The Fund utilized a guideline public company method to fair value this security. The significant unobservable inputs used in the valuation model
were total enterprise value ("TEV") and earnings before interest, taxes, depreciation and amortization (“EBITDA”) based on comparable multiples for a similar investment with similar risks. Significant increases or decreases in either of
these inputs in isolation may result in a significantly higher or lower fair value measurement.
|
||||||||||
(e)
|
The Fund utilized a transaction approach to fair value this security. The significant unobservable inputs used in the valuation model were total
enterprise value TEV and EBITDA. Significant increases or decreases in either of these inputs in isolation may result in a significantly higher or lower fair value measurement.
|
||||||||||
(f)
|
The Fund utilized a Black-Scholes options pricing model to fair value this security. The significant unobservable input used in the valuation
model was volatility. Significant increases or decreases in the input in isolation may result in a significantly higher or lower fair value measurement.
|