Apollo Commercial Prices Sale of Convertible Senior Notes

Apollo Commercial said late Tuesday that it has priced a public offering of $200 million 4.75% convertible senior notes due 2022. The underwriters were granted a 13-day option to buy up to an additional $30 million notes.

Proceeds will be used to acquire or originate the company’s target assets, which include commercial first mortgage loans, subordinate financings, commercial mortgage backed securities and other commercial real estate-related debt investments, and for working capital and other general corporate purposes.

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