Over a month ago | ||||
Reports Q4 NAV per share… Reports Q4 NAV per share $15.79. Howard Widra, Apollo Investment's CEO commented, "We continue to make substantial progress reducing our exposure to non-core assets with the receipt of significant cash proceeds from the repayment of non-core assets. Pro-forma for post quarter end paydowns and pending sales, non-core assets represent approximately 3% of the total portfolio, at fair value." Mr. Howard Widra continued, "Over the years, we have constructed a high quality first lien corporate lending portfolio which we believe is well-positioned for the current and evolving economic environment." |
Over a quarter ago | ||||
Citi analyst Arren… Citi analyst Arren Cyganovich upgraded Apollo Investment to Neutral from Sell with a price target of $13.50, up from $12. The company over the past few years has made positive progress on reducing non-accrual loans and non-core legacy assets, Cyganovich tells investors in a research note. Additionally, the analyst views the risk of Apollo's aircraft leasing portfolio Merx as improved given improving industry conditions | ||||
Net investment income per… Net investment income per share for the quarter was 35c compared to 33c for the quarter ended September 30. Net asset value per share as of the end of the quarter was $16.08 compared to $16.07 as of September 30. an increase of $0.01 driven primarily by a net appreciation on the corporate lending portfolio(1) and the accretive impact of share buybacks New investment commitments made during the quarter totaled $271 million(2) Mr. Howard Widra, Apollo Investment's Chief Executive Officer commented, "Results for the December quarter benefited from strong fee and prepayment income and also reflect the benefit from the ongoing monetization of non-earning or under-earning non-core assets. We continued to generate cash proceeds from the repayment of junior capital positions and non-core non-earning assets during the period. We have visibility into additional monetizations from our non-core portfolio in the coming quarters." Mr. Widra continued, "The market did present us with an opportunity to repurchase our stock below NAV during the quarter which was accretive to both NAV per share and net investment income per share. In addition, we are pleased to announce that our Board has increased our share repurchase authorization by $25 million having nearly completed the prior authorization." | ||||
Net asset value per share… Net asset value per share as of the end of the quarter was $16.07 compared to $16.02 as of June 30, 2021, an increase of 0.3% driven primarily by a net appreciation on the corporate lending portfolio. Mr. Howard Widra, Apollo Investment's Chief Executive Officer commented, "We continue to successfully execute our strategy of deploying capital into first lien floating rate corporate loans while reducing our exposure to non-core and junior capital positions. Our corporate lending portfolio continues to perform well as evidenced by strong and improving credit metrics." Mr. Widra continued, "We remain focused on increasing AINV's earnings and we believe the combination of upside in our existing portfolio with the redeployment of non and under-earning positions provides a clear path to generating a higher level of earnings." | ||||
As of June 30, the… As of June 30, the Company's outstanding debt obligations, excluding deferred financing cost and debt discount of $3.6 million, totaled $1.492 billion which was comprised of $350 million of Senior Unsecured Notes which will mature on March 3, 2025 and $1.142 billion outstanding under the Facility. As of June 30, 2021, $0.2 million in standby letters of credit were issued through the Facility. The available remaining capacity under the Facility was $667 million as of June 30, 2021, which is subject to compliance with a borrowing base that applies different advance rates to different types of assets in the Company's portfolio. Reports Q2 Net asset value per share as of the end of the quarter was $16.02 compared to $15.88 as of March 31, 2021, an increase of 0.9% driven primarily by net appreciation on the corporate lending portfolio....Net asset value per share as of the end of the quarter was $16.02 compared to $15.88 as of March 31, 2021, an increase of 0.9% driven primarily by net appreciation on the corporate lending portfolio(1)Mr. Howard Widra, Apollo Investment's Chief Executive Officer commented, "During the quarter we continued to make ongoing progress reducing our exposure to junior capital and non-core positions while increasing our exposure to first lien floating rate corporate loans. Our corporate lending portfolio continues to perform well and is benefiting from its first lien orientation and an improving economic backdrop." |