Today's LIBOR Rates
July 28, 2010
1 M |
0.31563 |
 |
3 M |
0.47500 |
|
6 M |
0.68794 |
|
1 YR |
1.06438 |
|
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Apollo Investment Group Amends LIBOR-based Credit Facility |
December 10, 2009
Per a press release, Apollo Investment Group has amended a credit facility with rates tied to LIBOR, the London Interbank Offered Rate. LIBOR is a filtered average of rates that banks charge each other for unsecured, short-term loans.
The amendment entails extending maturity on an eventual $2 billion in credit from 2011 to 2013. To date, Apollo has received extension commitments on $1.2 billion from its lenders. Interest on the amended credit facility will be LIBOR plus 300 basis points. Rates on funds remaining at original maturity dates will be LIBOR plus 100 points. Apollo will use the LIBOR-based borrowings for additional portfolio investments and general corporate purposes.