Apollo Commercial Real Estate Finance to begin public offering of 6 million share
NEW YORK — Apollo Commercial Real Estate Finance Inc. said Tuesday it plans a public offering of 6 million common shares.
The company has granted the underwriters a 30-day option to buy up to an additional 900,000 shares to cover excess demand.
Apollo plans to use the net proceeds from the offering for general corporate purposes, including paying back debt, investments in performing commercial first mortgage loans, commercial mortgage-backed securities and other assets.
JP Morgan Securities LLC, Citigroup Global Markets Inc., Wells Fargo Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Inc. are acting as joint book-running managers for the offering.
Shares in Apollo Commercial Real Estate Finance fell 70 cents, or 4 percent, to $16.70 in aftermarket trading after slipping 13 cents to $17.40 during the regular session.
MANALI
PGDM,1st sem
The company has granted the underwriters a 30-day option to buy up to an additional 900,000 shares to cover excess demand.
Apollo plans to use the net proceeds from the offering for general corporate purposes, including paying back debt, investments in performing commercial first mortgage loans, commercial mortgage-backed securities and other assets.
JP Morgan Securities LLC, Citigroup Global Markets Inc., Wells Fargo Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Inc. are acting as joint book-running managers for the offering.
Shares in Apollo Commercial Real Estate Finance fell 70 cents, or 4 percent, to $16.70 in aftermarket trading after slipping 13 cents to $17.40 during the regular session.
MANALI
PGDM,1st sem
This entry was posted on at 3:36 AM. You can follow any responses to this entry through the RSS 2.0. You can