Apollo Investment: Flags sufficient liquidity to weather coronavirus outbreak

Midcap Financial Investment

26/03/2020 19:01

** Investment manager's shares  AINV.O  rise 11.6% to $8.53
    ** Says it has sufficient capital to meet funding needs
during market volatility caused by coronavirus outbreak
    ** Have seen increased funding requests from existing
borrowers and believe co has liquidity to meet the contractual
requests - AINV  urn:newsml:reuters.com:*:nGNX2GssNJ
    ** AINV says as of Dec. 31, its $2.97 bln investment
portfolio was diversified across 151 companies and 29 industries
    ** Says it has a senior secured revolving facility maturing
Nov. 2023, with total commitments of $1.81 bln and also has $350
mln unsecured debt maturing March 2025
    ** AINV down >50% so far this year

 (Reporting by Shariq Khan in Bengaluru)
 ((Shariq.Khan@thomsonreuters.com; Twitter: @shariqrtrs))