NEW YORK--(BUSINESS WIRE)--Jul. 3, 2017--
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.
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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Source: Apollo Commercial Real Estate Finance, Inc.
Apollo Commercial Real Estate Finance, Inc.