Apollo Shares Drop 3.26% with $740M Volume Ranking 144th as $500M Bond Offering Targets Debt Refinance

On August 7, 2025, Apollo Global Management (APO) closed at a 3.26% decline, with a trading volume of $740 million, ranking 144th in the market. The firm announced a $500 million offering of 5.150% senior notes due 2035, set to close on August 12. The notes, guaranteed by certain subsidiaries, will pay semi-annual interest starting February 12, 2026. Proceeds of approximately $495.5 million will fund general corporate purposes, including repaying senior secured notes of Bridge Investment Group Holdings LLC post-acquisition. Citigroup, BofA, and Goldman Sachs led the offering, with multiple co-managers supporting the transaction.

The offering reflects Apollo’s strategy to optimize debt structure while addressing obligations from recent acquisitions. The 5.150% interest rate, higher than current market averages, may impact future earnings but aligns with long-term capital planning. Subsidiary guarantees mitigate default risks, though investors may scrutinize leverage levels. The use of proceeds to refinance Bridge’s debt suggests Apollo is consolidating liabilities, potentially stabilizing its balance sheet amid market volatility.

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