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    Home»Deals & Transactions»Apollo Increases SoftBank Loan to $5.1 Billion From $4 Billion
    Deals & Transactions

    Apollo Increases SoftBank Loan to $5.1 Billion From $4 Billion

    March 25, 2022Updated:March 25, 20221 Min Read
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    FILE PHOTO: Marc Rowan of Apollo Global Management LLC participates in the "Finding Opportunities in Restructuring in the Year Ahead" panel at the 2010 Milken Institute Global Conference in Beverly Hills, California April 28, 2010. REUTERS/Phil McCarten
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    Apollo Global Management Inc. increased its loan to SoftBank Group Corp. to $5.1 billion, according to a person with knowledge of the matter.

    SoftBank, which first borrowed $4 billion from New York-based Apollo in December, closed an additional $1.1 billion backed by holdings of SoftBank Vision Fund 2 on Tuesday, and drew substantial investor interest despite market volatility, the person said, asking not to be identified discussing a private transaction.

    All in, the $5.1 billion unitranche loan represents the largest of its kind in the private-credit market, according to data compiled by Bloomberg. The addition comes amid an increase in Vision Fund 2’s holdings, the person said. The fund’s fair value was $48 billion as of Dec. 31, according to a presentation by the Japanese conglomerate.

    Read more: BNN Bloomberg

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