Apollo Commercial Real Estate Finance, Inc. Announces Adjustment of Conversion Rate for 5.50% Convertible Senior Notes Due 2019
October 11 2016 - 8:30AM
Business Wire
Apollo Commercial Real Estate Finance, Inc. (the “Company” or
“ARI”) (NYSE:ARI) today announced the conversion rate applicable to
its outstanding 5.50% Convertible Senior Notes due 2019 has been
adjusted to 56.5584 from 55.9411, effective September 28, 2016 and
subject to further adjustment as provided in the governing
indenture. The adjustment has been made pursuant to the terms of
the notes as a result of the cash dividend to be paid on October
17, 2016 and recognition of carried-forward adjustments relating to
cash dividends of $0.46 per share of common stock and paid on April
15, 2016 and July 15, 2016, which adjustments were deferred and
carried forward as permitted under the indenture.
About Apollo Commercial Real Estate Finance, Inc.
Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) is a real
estate investment trust that primarily originates, invests in,
acquires and manages performing commercial real estate first
mortgage loans, subordinate financings, commercial mortgage-backed
securities and other commercial real estate-related debt
investments. The Company is externally managed and advised by
ACREFI Management, LLC, a Delaware limited liability company and an
indirect subsidiary of Apollo Global Management, LLC, a leading
global alternative investment manager with approximately $186.3
billion of assets under management as of June 30, 2016.
Additional information can be found on the Company's website at
www.apolloreit.com
Forward-Looking Statements
Certain statements contained in this press release constitute
forward-looking statements as such term is defined in Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and such statements
are intended to be covered by the safe harbor provided by the same.
Forward-looking statements are subject to substantial risks and
uncertainties, many of which are difficult to predict and are
generally beyond the Company's control. These forward-looking
statements include information about possible or assumed future
results of the Company's business, financial condition, liquidity,
results of operations, plans and objectives. When used in this
release, the words "believe," "expect," "anticipate," "estimate,"
"plan," "continue," "intend," "should," "may" or similar
expressions are intended to identify forward-looking statements.
Statements regarding the following subjects, among others, may be
forward-looking: the return on equity; the yield on investments;
the ability to borrow to finance assets; and risks associated with
investing in real estate assets, including changes in business
conditions and the general economy. For a further list and
description of such risks and uncertainties, see the reports filed
by the Company with the Securities and Exchange Commission. The
forward-looking statements, and other risks, uncertainties and
factors are based on the Company's beliefs, assumptions and
expectations of its future performance, taking into account all
information currently available to the Company. Forward-looking
statements are not predictions of future events. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161011005372/en/
Apollo Commercial Real Estate Finance, Inc.Investor
RelationsHilary Ginsberg, 212-822-0767
Apollo Commercial Real E... (NYSE:ARI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Apollo Commercial Real E... (NYSE:ARI)
Historical Stock Chart
From Apr 2023 to Apr 2024