Apollo Infrastructure to launch $360 million of loans on Tuesday

By Sara Rosenberg

New York, Nov. 26 – Apollo Infrastructure Equity Portfolio will hold a bank meeting at 10 a.m. ET on Tuesday to launch $360 million of credit facilities, according to a market source.

RBC Capital Markets, Goldman Sachs Bank USA and BMO Capital Markets are the bookrunners on the deal.

The facilities consist of a $35 million revolver, a $50 million letter-of-credit facility and a $275 million term loan B, the source said.

Commitments are due on Dec. 11.

Proceeds will be used to help fund Apollo Global Management LLC’s acquisition of an approximately $1 billion portfolio, including assumed obligations, of predominantly equity investments in energy assets from GE Capital’s Energy Financial Services unit.

Closing is expected in the fourth quarter, subject to customary conditions.

The equity portfolio is comprised of about 20 investments in renewable energy, contracted natural gas fired generation and midstream energy infrastructure assets, primarily in the United States.

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