Apollo Commercial Real Estate Finance, Inc. Announces Redemption of 8.625% Series A Cumulative Redeemable Perpetual Preferred...
July 03 2017 - 1:20PM
Business Wire
Apollo Commercial Real Estate Finance, Inc. (the “Company”)
(NYSE:ARI) announced today that it will redeem all 3,450,000 issued
and outstanding shares of its 8.625% Series A Cumulative Redeemable
Perpetual Preferred Stock (the "Series A Preferred Stock") on
August 2, 2017 (the "Redemption Date"). The shares of Series A
Preferred Stock will be redeemed at the redemption price of $25.00
per share, plus a dividend in an amount of $0.1079 per share,
representing all accumulated and unpaid dividends to, but not
including, the Redemption Date. On the Redemption Date, dividends
on the Series A Preferred Stock will cease to accrue.
The notice of redemption will be mailed today to holders of
record of shares of the Series A Preferred Stock. All of the shares
of Series A Preferred Stock are held through the Depository Trust
Company ("DTC") and will be redeemed in accordance with DTC's
procedures. Questions relating to the notice of redemption should
be directed to Wells Fargo Shareowner Services, the Company's
redemption agent (the "Agent"), at (800) 468-9716. The address of
the Agent is Wells Fargo Shareowner Services, Attn: Corporate
Actions Department, 1110 Centre Pointe Curve, Suite 101, Mendota
Heights, MN 55120.
About Apollo Commercial Real Estate Finance, Inc.
Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) is a
real estate investment trust that primarily originates, acquires,
invests in and manages performing commercial 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 $197.5 billion of assets
under management as of March 31, 2017.
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; the Company’s ability to deploy the proceeds of
its capital raises or acquire its target 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.
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Apollo Commercial Real Estate Finance, Inc.Hilary
Ginsberg, 212-822-0767Investor Relations
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