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
