Apollo Global Management issues $600M in 2056 notes

Available on EDGAR 11/13/2026 - 04:50 PM EST Accepted by SEC EDGAR 11/13/2026 - 04:50 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

On November 13, 2026, Apollo Global Management, Inc. (APO) issued $600 million aggregate principal amount of 7.550% Fixed-Rate Resettable Junior Subordinated Notes due December 15, 2056. The notes pay a fixed 7.550% annual rate through December 15, 2036; on and after that date, each reset-period rate is the Five-Year U.S. Treasury Rate plus 2.672%.

Apollo intends to use the net proceeds for general corporate purposes, including funding its previously announced investment in Mubadala Capital Asset Management.

Filing Explained

The filing adds that Apollo may defer interest payments on the issued notes; interest is otherwise payable semiannually, beginning June 15, 2027.

8-K Event Classification

4 items: 1.01, 2.03, 8.01, 9.01

4 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Aggregate principal amount: $600 million Fixed interest rate: 7.550% per year First Reset Date: December 15, 2036 +3 more

6 metrics

Aggregate principal amount $600 million Notes issued November 13, 2026

Fixed interest rate 7.550% per year Applies through December 15, 2036

First Reset Date December 15, 2036 Reset rates apply on and after this date

Reset spread 2.672% Added to the Five-Year U.S. Treasury Rate for each Reset Period

Interest payment commencement June 15, 2027 Payments are scheduled semi-annually in arrears on June 15 and December 15

Maturity December 15, 2056 Maturity date of the notes

Key Terms

Fixed-Rate Resettable Junior Subordinated Notes, Reset Period, Five-Year U.S. Treasury Rate, Reset Interest Determination Date, +1 more

5 terms

Fixed-Rate Resettable Junior Subordinated Notes financial

"7.550% Fixed-Rate Resettable Junior Subordinated Notes due 2056"

Reset Period financial

"for each Reset Period"

A reset period is the scheduled interval when a variable or floating interest rate, pricing reference, or contract parameter is recalculated and updated for the next term. Think of it like regularly adjusting a thermostat: at each reset the rate is set based on a reference index or formula, and that new setting determines upcoming payments or valuations. Investors care because resets change cash flow amounts and interest-rate exposure, which affects income, risk, and market value of the instrument.

Five-Year U.S. Treasury Rate financial

"equal to the Five-Year U.S. Treasury Rate"

Reset Interest Determination Date financial

"most recent Reset Interest Determination Date"

Indenture financial

"pursuant to an indenture, dated as of November 13, 2026"

An indenture is a legal agreement between a company that borrows money by issuing bonds and the people who buy those bonds. It explains the rules the company must follow, like paying back the money and keeping certain financial promises. This document helps both sides understand their rights and responsibilities.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much debt did APO issue?

Apollo issued $600 million aggregate principal amount of 7.550% Fixed-Rate Resettable Junior Subordinated Notes due 2056.

What rate do Apollo’s 2056 notes pay after the first reset?

On and after December 15, 2036, the rate for each Reset Period equals the Five-Year U.S. Treasury Rate as of the most recent Reset Interest Determination Date plus 2.672%.

When does interest begin on Apollo’s new notes?

Interest is payable semi-annually in arrears on June 15 and December 15 of each year, beginning June 15, 2027, subject to Apollo’s right to defer payment.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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false 0001858681 0001858681 2026-11-13 2026-11-13 0001858681 us-gaap:CommonStockMember 2026-11-13 2026-11-13 0001858681 us-gaap:JuniorNotesMember 2026-11-13 2026-11-13

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): November 13, 2026

Apollo Global Management, Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-41197		86-3155788
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

9 West 57th Street, 42nd Floor

New York, New York 10019

Attn: Corporate Secretary

(Address of principal executive offices) (Zip Code)

(212) 515-3200

(Registrant’s Telephone Number, Including Area Code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock		APO		New York Stock Exchange
7.625% Fixed-Rate Resettable Junior Subordinated Notes due 2053		APOS		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On November 13, 2026, Apollo Global Management, Inc. (the “Company”) issued $600,000,000 aggregate principal amount of its 7.550% Fixed-Rate Resettable Junior Subordinated Notes due 2056 (the “Notes”), pursuant to a previously announced underwritten public offering (the “Offering”). The Notes were issued pursuant to an indenture, dated as of November 13, 2026 (the “Indenture”), among the Company, each of the guarantors named therein and U.S. Bank Trust Company, National Association, as trustee. The Indenture is filed as Exhibit 4.1 hereto, and is incorporated by reference herein.

The Notes will bear interest at a fixed rate of 7.550% per year until December 15, 2036 (the “First Reset Date”). On and after the First Reset Date, the interest rate on the Notes for each Reset Period (as defined in the Indenture) will be equal to the Five-Year U.S. Treasury Rate (as defined in the Indenture) as of the most recent Reset Interest Determination Date (as defined in the Indenture) plus a spread of 2.672%. Subject to the Company’s right to defer the payment of interest, interest on the Notes will be payable semi-annually in arrears on June 15 and December 15 of each year, commencing on June 15, 2027. The Notes will mature on December 15, 2056.

The Company intends to use the net proceeds from the Offering for general corporate purposes, including to fund the previously announced investment in Mubadala Capital Asset Management.

The Notes were sold pursuant to an effective automatic shelf registration statement on Form S-3 (the “Registration Statement”) (File No. 333-294981) filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 10, 2026. The terms of the Offering are described in a Prospectus dated April 10, 2026, as supplemented by a Prospectus Supplement dated November 9, 2026. The closing of the sale of the Notes occurred on November 13, 2026.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information contained in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.03.

Item 8.01 Other Events.

The information contained in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 8.01.

Underwriting Agreement

In connection with the issuance and sale of the Notes, the Company entered into an underwriting agreement, dated November 9, 2026 (the “Underwriting Agreement”), with J.P. Morgan Securities LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC, as representatives of the several underwriters named therein, relating to the Notes. The Underwriting Agreement is filed as Exhibit 1.1 hereto and is incorporated by reference herein.

Opinion of Counsel

The opinion of Paul, Weiss, Rifkind, Wharton & Garrison LLP, relating to the validity of the Notes and the related guarantees, is filed as Exhibit 5.1 hereto and is incorporated by reference into the Registration Statement.

Item 9.01 Financial Statements and Exhibits.

The exhibits to this Current Report on Form 8-K (except Exhibit 104) are hereby incorporated by reference into the Registration Statement.

(d) Exhibits.

Exhibit No.		Description
1.1		Underwriting Agreement, dated as of November 9, 2026, among Apollo Global Management, Inc. and J.P. Morgan Securities LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC, as representatives of the underwriters named therein, relating to the 7.550% Fixed-Rate Resettable Junior Subordinated Notes due 2056.
4.1		Indenture, dated as of November 13, 2026, among Apollo Global Management, Inc., the guarantors named therein and U.S. Bank Trust Company, National Association, as trustee.
4.2		Form of 7.550% Fixed-Rate Resettable Junior Subordinated Notes due 2056 (included in Exhibit 4.1).
5.1		Opinion of Paul, Weiss, Rifkind, Wharton & Garrison LLP with respect to the 7.550% Fixed-Rate Resettable Junior Subordinated Notes due 2056.
23.1		Consent of Paul, Weiss, Rifkind, Wharton & Garrison LLP (included in Exhibit 5.1)
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 13, 2026

APOLLO GLOBAL MANAGEMENT, INC.
By:		/s/ Jessica L. Lomm
Name:		Jessica L. Lomm
Title:		Vice President & Secretary

Filing Exhibits & Attachments

7 documents

Other Documents

• EX-1.1 EX-1.1 179.8 KB
• EX-4.1 EX-4.1 524.7 KB
• EX-5.1 EX-5.1 16.8 KB
• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 4.1 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 13.7 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 22.8 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 14.7 KB