NEW YORK, Dec. 23, 2020 (GLOBE NEWSWIRE) -- Apollo Investment Corporation (NASDAQ: AINV) announced today that it has extended the final maturity of its senior secured revolving credit facility by approximately 2 years from November 19, 2023 to December 22, 2025. Total commitments to the Facility will remain $1.81 billion until November 19, 2022 and will decrease to $1.705 billion thereafter. Pricing and advance rates remain unchanged on the Facility. The minimum shareholders’ equity covenant on the Facility was amended. All other financial covenants were unchanged.
JPMorgan Chase Bank, N.A., Truist Securities, Inc., BMO Capital Markets Corp., and MUFG Union Bank, N.A. are Joint Bookrunners and Joint Lead Arrangers on the Facility. JPMorgan Chase Bank, N.A is the Administrative Agent on the Facility.
“We are pleased to announce the extension of our revolving credit facility which enhances our liquidity position,” said Howard Widra, Chief Executive Officer of the Company.
Mr. Gregory W. Hunt, the Company’s Chief Financial Officer, commented, “We greatly appreciate the support of our lenders in this extension which demonstrates their confidence in our platform and strategy.”
For further information, please see the Company’s current report on Form 8-K filed with the Securities and Exchange Commission on December 23, 2020.
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 invests primarily in various forms of debt investments, including secured and unsecured debt, loan investments, and/or equity in private middle-market companies. The Company may also invest in the securities of public companies and structured products and other investments such as collateralized loan obligations and credit-linked notes. 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, Inc., a leading global alternative investment manager. For more information, please visit www.apolloic.com.
