Our Private Equity Group is considered the go-to practice for complex, bespoke and firm-defining transactions. With clients ranging from the world’s leading institutional asset managers to prominent middle-market private equity and growth equity firms, we offer comprehensive advice to general partners, limited partners, co-investors and other equity stakeholders, as well as portfolio companies, lenders and financial sponsor groups. The depth and continuity of our relationships across the industry gives us a nuanced understanding of each client’s objectives and allows us to provide seamless, efficient counsel across the investment lifecycle.
Apollo Completes $600 Million Fixed-Rate Resettable Junior Subordinated Notes Offering
- Client News
- August 23, 2023
Paul, Weiss advised Apollo Global Management in its offering of $600 million aggregate principal amount of its 7.625% fixed-rate resettable junior subordinate notes due 2053. The notes are fully and unconditionally guaranteed by Apollo Asset Management (AAM) and certain other Apollo subsidiaries. Apollo will use the net proceeds from the offering, together with cash on hand, to redeem in full AAM’s outstanding shares of 6.375% Series A Preferred Stock and 6.375% Series B Preferred Stock. Following the redemption, AAM intends to terminate its separate filings under the Exchange Act. Morgan Stanley & Co. LLC, BofA Securities, Inc., UBS Securities LLC and Wells Fargo Securities, acted as joint bookrunning managers for the offering.
The Paul, Weiss team was led by Christodoulos Kaoutzanis and Gregory Ezring, and included corporate partners Brad Finkelstein, Manuel Frey, Brian Janson and Matthew Goldstein and counsel Patricia Vaz de Almeida and Jason Tyler; tax partner Brian Grieve; intellectual property partner Claudine Meredith-Goujon; and executive compensation partner Jean McLoughlin and counsel Jake Glazeski and Bruce Goldberger.