APO - Apollo Global Management, Inc.
| Previous Close | 40.58 |
| Open | 40.85 |
| Bid | 40.28 x 900 |
| Ask | 40.23 x 900 |
| Day's Range | 40.00 - 40.86 |
| 52 Week Range | 22.63 - 41.79 |
| Volume | 2,254,103 |
| Avg. Volume | 2,163,890 |
| Market Cap | 16.183B |
| Beta (3Y Monthly) | 1.72 |
| PE Ratio (TTM) | 33.54 |
| EPS (TTM) | 1.20 |
| Earnings Date | Oct 29, 2019 - Nov 4, 2019 |
| Forward Dividend & Yield | 2.00 (4.93%) |
| Ex-Dividend Date | 2019-08-15 |
| 1y Target Est | 42.00 |
- Moody's
Pinnacle Operating Corporation -- Moody's downgrades Pinnacle Operating Corp CFR to Caa3, changes outlook to negative
Moody's Investors Service ("Moody's") downgraded the corporate family rating of Pinnacle Operating Corporation to Caa3 from Caa2 and the probability of default rating to Caa3-PD from the Caa2-PD. Moody's also downgraded most instrument ratings (see debt list) and changed the outlook to negative. The downgrades and the outlook change to negative reflect deterioration of credit metrics and liquidity due to an ongoing challenging agricultural market environment and continued risk of a debt restructuring or distressed debt exchange.
- Bloomberg
Apollo Poaches AMP Executive Dylan Foo to Oversee Infrastructure
(Bloomberg) -- Apollo Global Management Inc. hired AMP Capital executive Dylan Foo as a partner overseeing infrastructure, according to people with knowledge of the matter.Foo, who spent 13 years at AMP Capital, will start at New York-based Apollo after a period of gardening leave, according to one of the people, who requested anonymity because the appointment is not yet public. Simon Ellis, an AMP Capital partner based in the U.K., will relocate to the U.S. to succeed Foo in leading Americas infrastructure equity, the firm said in a statement.An Apollo representative declined to comment, and Foo couldn’t be reached for comment.Apollo has been seeking to fill the role since at least February, when Bloomberg News reported that the firm was seeking to capitalize on investor interest in the sector, which has already been tackled by rivals like Blackstone Group, Carlyle Group and KKR & Co. It has acquired a $1 billion portfolio of energy infrastructure assets from General Electric Co. and in March agreed to buy a majority stake in DCLI, a marine and domestic chassis provider, from EQT Infrastructure.Infrastructure, part of the real assets division, accounted for $2 billion of the Apollo’s assets under management as of June 30, a small fraction of the firm’s $312 billion in total assets under management.To contact the reporter on this story: Gillian Tan in New York at gtan129@bloomberg.netTo contact the editors responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net, Michael J. Moore, Pierre PauldenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- GlobeNewswire
YRC Worldwide Announces New Term Loan Agreement
OVERLAND PARK, Kan., Sept. 11, 2019 -- YRC Worldwide Inc. (NASDAQ: YRCW) announced today it has completed a refinancing of its term loan obligations and entered into a term.
- GlobeNewswire
Customers Choose Flowroute as 2019 Top SIP Trunk Provider
OMAHA, Neb., Sept. 10, 2019 -- Intrado, a global leader in technology-enabled services, today announced that its Flowroute solution, the first software centric carrier, was.
- Moody's
Shutterfly, LLC -- Moody's assigns B2 CFR to Shutterfly following leveraged buyout by Apollo; rates new secured debt at B1 and unsecured notes at Caa1; outlook stable
Moody's Investors Service ("Moody's") has assigned to Shutterfly, LLC ("Shutterfly") a B2 Corporate Family Rating (CFR) and B2-PD Probability of Default Rating (PDR). In connection with this rating action, Moody's assigned a B1 rating to Shutterfly's proposed senior secured credit facilities, consisting of a $300 million revolving credit facility and $1.285 billion term loan B, a B1 rating to the new $500 million senior secured notes and Caa1 rating to the new $300 million senior unsecured notes.
- Reuters
US loan investors eye quality as pipeline grows
What a difference a year makes. Loans backing US leveraged buyouts (LBOs), including a US$500m term loan for the Carlyle Group’s acquisition of ship repair services company Vigor Industrial and a US$755m first-lien loan supporting Thoma Bravo’s purchase of data provider J.D. Power Associates, are expected to garner demand throughout September, among other debt financings. This month, US investors have instead set sights on smaller-sized, but higher-quality leveraged loans from recognizable sponsors and borrowers.
- Zacks
Apollo Global (APO) Looks Good: Stock Adds 5.3% in Session
Apollo Global (APO) saw a big move last session, as its shares jumped more than 5% on the day, amid huge volumes.
- Reuters
UPDATE 1-French glassware maker Verallia kicks off IPO process
French glass bottle maker Verallia said on Thursday it had begun the process for an initial public offering in Paris, setting the stage for the largest new listing in the country this year. Verallia, controlled since 2015 by U.S. investment company Apollo, said on Wednesday the French stock market regulator had approved its IPO registration document.
- Reuters
French glassware maker Verallia begins IPO process
French glass bottle maker Verallia said on Thursday it had begun the process for an initial public offering in Paris, setting the stage for the largest new listing in the country this year. A Paris listing could value Verallia at about 4.5 billion euros ($5 billion) including debt, sources close to the matter told Reuters in July.
- GlobeNewswire
Intrado Digital Media Introduces Integrated Workflow Solution for Marketers
OMAHA, Neb., Sept. 03, 2019 -- Intrado, a leading technology enablement company, announced today an end-to-end workflow solution for marketers looking to maximize the.
- Financial Times
Swedish buyout group EQT seeks to raise at least €500m in IPO
EQT, which was founded by the Wallenberg family of industrialists in 1994 and has grown to become one of Europe’s biggest private equity groups, is seeking to sell about a fifth of its shares in a listing that could value it at about €4bn.
- Zacks
General Electric's (GE) GECAS Unit to Divest PK AirFinance
General Electric's (GE) financial services unit GE Capital's divestment of PK AirFinance will help it progress on its plan to divest assets worth $10 billion in 2019.
- Investor's Business Daily
General Electric Takes Another Step In Massive Turnaround Campaign
GE's Capital Aviation Services unit is selling its PK AirFinance business to Apollo Global Management and Athene Holding.
- Market Realist
GE Capital Sells PK AirFinance to APO and ATH
Today, General Electric announced the sale of GE Capital's PK AirFinance to Apollo Global Management and Athene Holding. All three stocks rose on the news.
- American City Business Journals
GE sells aviation lending unit to Apollo, Athene
GE has been significantly downsizing GE Capital, once one of the largest financial services companies in the U.S., for years.
- Bloomberg
GE Sells $3.6 Billion Air Finance Asset to Apollo, Athene
(Bloomberg) -- General Electric Co. agreed to sell an aircraft-financing business to Apollo Global Management LLC and Athene Holding Ltd. as the ailing manufacturer slims down its once-vast lending arm.Apollo will acquire PK AirFinance, a subsidiary of GE’s broader aircraft-leasing business known as Gecas, while Athene will buy a related portfolio of loans, the companies said Thursday in a statement. The deal is expected to close in the fourth quarter.While financial terms of the deal weren’t disclosed, the companies said that $3.6 billion of PK AirFinance’s financing receivables would be sold above book value. Bloomberg News reported last month that Apollo and Starwood Capital Group were among the bidders for the unit, in a deal that could fetch around $4 billion.The sale accelerates the dismantling of GE’s finance operation as Chief Executive Officer Larry Culp reorients the company around equipment manufacturing. GE has been moving away from lending since the 2008 financial crisis, though it has resisted selling its aircraft-leasing assets.“This sale is aligned to GE Capital’s overall strategy to become smaller and simpler, and our commitment to reduce our assets by $10 billion in 2019 is now more than halfway complete,” GE Capital CEO Alec Burger said in the statement. The company continues to focus on reducing its debt-to-equity ratio, he said.What Bloomberg Intelligence Says“General Electric continues to seek opportunities to raise cash, with the PK AirFinance sale another positive step toward shrinking its finance subsidiary. We expect GE to keep most of Gecas and may still divest some smaller units.”\-- Karen Ubelhart, Christina Constantino, industry analystsClick here to read the researchGE shares rose 2.3% to $8.13 at 12:28 p.m. in New York. The stock had climbed 9.1% this year through Wednesday, having dropped sharply in the past two weeks after accounting investigator Harry Markopolos accused the company of fraud. GE denied the allegation. The S&P 500 Index has advanced 15% this year.Apollo, which has sought $1 billion for a new aircraft-finance fund, had previously expressed interest in GE’s jet-leasing assets. Culp has said he doesn’t intend to sell all of GE Capital Aviation Services, which is one of the world’s largest plane-leasing companies.PK AirFinance specializes in loans secured by commercial aircraft, engines and helicopters. It has exposure to more than 320 planes and more than 50 engines across the globe, with a principal focus on Asia, Europe, the Middle East and Africa. The company’s investment employees will move to Apollo.The operation traces its roots to 1979, when it was established by a Swedish bank that dubbed the business, PK-Banken. In 1988, the company was renamed Crédit Lyonnais/PK Airfinance after the French lender acquired a majority stake. GE bought the unit in 2000.(Updates with analyst’s comment in quote box)To contact the reporter on this story: Richard Clough in New York at rclough9@bloomberg.netTo contact the editors responsible for this story: Brendan Case at bcase4@bloomberg.net, Tony RobinsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- GlobeNewswire
Apollo and Athene to Acquire PK AirFinance From GECAS
NEW YORK, Aug. 29, 2019 -- Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo”) (NYSE: APO); Athene Holding Ltd. (NYSE: ATH); and GE Capital,.
- Reuters
Deals of the day-Mergers and acquisitions
** Germany's BASF said it agreed to sell its global pigments business to Japanese fine chemical company DIC for 1.15 billion euros ($1.28 billion) on a cash and debt-free basis. ** Apollo Global Management and Athene Holding said they would buy PK AirFinance, an aircraft lending business that is a part of GE Capital's aviation services unit for an undisclosed amount. ** Canadian tour operator Transat A.T. Inc said on Thursday that the Superior Court of Quebec had approved its sale to Air Canada in a C$720 million ($542.37 million) deal.
- Moody's
Fresh Market, Inc. (The) -- Moody's changes Fresh Market's outlook to Stable
Moody's Investors Service ("Moody's") today changed the outlook for The Fresh Market, Inc. ("Fresh Market") to Stable from Negative. Moody's also affirmed the company's Corporate Family Rating and Probability of Default rating at Caa2 and Caa2-PD respectively. Additionally Moody's affirmed the rating of the company's $800 million senior secured notes at Caa2.
- Skift
U.S. Discount Carrier Sun Country Airlines Prepares for IPO
Sun Country Airlines, a small Minnesota-based, low-cost carrier owned by private-equity firm Apollo Global Management, plans to file for an initial public offering as soon as April, Sun Country's CEO said Tuesday in an interview. "Our earnings are supportive," Jude Bricker told Skift at the International Aviation Forecast Summit in Las Vegas. "I think there's […]
- Reuters
RRJ Capital-led group near $4 bln deal for HNA's Ingram Micro -source
A consortium led by Asian private equity group RRJ Capital is finalising a deal with Chinese conglomerate HNA Group to invest $4 billion in HNA unit Ingram Micro Inc for a controlling stake in the U.S. electronics distributor, a source said on Monday. Debt-laden airlines-to-finance conglomerate HNA has launched a series of asset sales including real estate and stakes in hotel groups over more than a year following China's crackdown on aggressive dealmaking firms. HNA bought Ingram for $6 billion as part of the $50 billion worth of deals it had announced in the past few years.
- Bloomberg
Apollo, First Reserve Are Said to Be Among SPX Flow Unit Bidders
(Bloomberg) -- Apollo Global Management LLC and First Reserve are among the private equity firms interested in the power and energy business being sold by SPX Flow Inc., according to people with knowledge of the matter.The buyout firms are among the potential buyers for the business, which is expected to be valued at about $700 million, said the people, who asked not to be identified because they weren’t authorized to speak publicly. First Reserve could combine the SPX unit with its Trillium Flow Technologies, one of the people said.Representatives for Apollo and First Reserve declined to comment. A representative for SPX Flow didn’t respond to requests for comment.SPX, based in Charlotte, North Carolina, announced it was looking at options for the business in May, hiring BNP Paribas SA as financial adviser. The company said it intended to focus on its other divisions.Its power business manufacturers pumps, valves, filtration products and aftermarket parts under brands that include M&J Valve and ClydeUnion Pumps, for use in the energy industry, according to its website.SPX Flow, with a market value of $1.32 billion, was spun off from SPX Corp. in 2015. Its remaining business units after a sale of its power and energy operations would include those focused on transporting liquids in the food and beverage sector, as well as industrial liquids and its Bran+Lubbe metering pump,To contact the reporters on this story: Kiel Porter in Chicago at kporter17@bloomberg.net;Gillian Tan in New York at gtan129@bloomberg.netTo contact the editors responsible for this story: Liana Baker at lbaker75@bloomberg.net, ;Alan Goldstein at agoldstein5@bloomberg.net, Michael Hytha, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters
Slovenia court ruling enables first bank bail-in repayment
A Slovenian appellate court has upheld a verdict by a lower court that a local bank had to repay two owners of subordinated bonds scrapped during Slovenia's 2013/14 bank overhaul, raising the possibility that more bondholders might be repaid. The Celje Higher Court confirmed to Reuters on Friday that it upheld the verdict because "the bank did not fully inform" its clients about the possible consequences of purchasing subordinated bonds.
- Barrons.com
And the Most Aggressive Private-Equity Deal Sponsor Is...
Vista Equity Partners, as measured by the quality of covenants in new debt issued in the past 18 months, according to Xtract Research.
