Apollo Investment Corporation (ASX:AIB) Files An 8-K Entry into a Material Definitive Agreement

Apollo Investment Corporation (ASX:AIB) Files An 8-K Entry into a Material Definitive Agreement

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Item 1.01 Entry into a Material Definitive Agreement

On December 22, 2016, Apollo Investment Corporation (the Company)
amended and restated its senior secured, multi-currency,
revolving credit facility (the Amended Restated Facility). The
Amended Restated Facility has lender commitments of
$1,140,000,000 and allows the Company to seek additional
commitments from new and existing lenders in the future, up to an
aggregate facility size not to exceed $1,965,000,000. The final
maturity date of the Amended Restated Facility is December 22,
2021. Pricing for eurocurrency borrowings will be 175 or 200
basis points over Adjusted LIBO Rate, and pricing for Alternate
Base Rate borrowings will be 75 or 100 basis points over an
Alternate Base Rate, in each case determined based on the total
amount of the Borrowing Base relative to the total commitments
available under the Amended Restated Facility plus the aggregate
amount of certain other indebtedness minus the amount of fully
cash collateralized letters of credit to the Amended Restated
Facility.
Under the Amended Restated Facility, the Company has made certain
representations and warranties and is required to comply with
various covenants, reporting requirements and other customary
requirements for similar revolving credit facilities, including,
without limitation, covenants related to: (a) limitations on the
incurrence of additional indebtedness and liens, (b) limitations
on certain investments, (c) limitations on certain asset
transfers and restricted payments, (d) maintaining a certain
minimum shareholders equity, (e) maintaining a ratio of total
assets (less total liabilities) to total indebtedness, of the
Company and its subsidiaries (subject to certain exceptions), of
not less than 2.0:1.0, and (f) limitations on the creation or
existence of agreements that prohibit liens on certain properties
of the Company and certain of its subsidiaries. The Amended
Restated Facility also continues to include usual and customary
events of default for senior secured revolving credit facilities
of this type.
In addition to the asset coverage ratio described above,
borrowings under the Amended Restated Facility (and the
incurrence of certain other permitted debt) will continue to be
subject to compliance with a Borrowing Base that will apply
different advance rates to different types of assets in the
Companys portfolio. Borrowings under the Amended Restated
Facility will also continue to be subject to the leverage
restrictions contained in the Investment Company Act of 1940, as
amended.
Terms used in the foregoing paragraphs have the meanings set
forth in the Amended Restated Facility. The description above is
only a summary of the material provisions of the Amended Restated
Facility and does not purport to be complete and is qualified in
its entirety by reference to the provisions in such Amended
Restated Facility, which is attached hereto as Exhibit 10.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number
Exhibit
10.1
Amended and Restated Senior Secured Revolving Credit
Agreement, dated as of December 22, 2016, between
Apollo Investment Corporation, the lenders party
thereto, and JPMorgan Chase Bank, N.A., as
Administrative Agent


About Apollo Investment Corporation (ASX:AIB)

Aurora Global Income Trust is engaged in investments in equities and derivatives, in accordance with the provision of the Trust Constitution and the Product Disclosure Statement (PDS). The Trust segment is operated through the business of investment management within Australia. The Trust objective is to achieve absolute returns (positive returns in both rising and falling equity markets) by using a number of different global investment strategies that allows the performance of the Trust to have very little correlation to the performance of global equity market indexes. The Trust focuses on the universe of global exchange listed equities and equity derivatives, including options and convertible securities. Aurora Funds Management Limited is the responsible entity and investment manager of the Trust.

Apollo Investment Corporation (ASX:AIB) Recent Trading Information

Apollo Investment Corporation (ASX:AIB) closed its last trading session 00.000 at 0.790 with 0 shares trading hands.

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