APO Apollo Global Management Inc

PK AirFinance (“PK”), a leading aviation lending platform and affiliate of Apollo (NYSE: APO), has closed its second aircraft loan asset-backed securitization issued in 2024: PK ALIFT LOAN FUNDING 4 Series 2024-2 (“PKAIR 2024-2”). PKAIR 2024-2 issued over $633 million of debt that will be used to acquire the rights to the economics of a portfolio of aviation loans via the acquisition of a 100% series limited partnership interest in a PK-managed origination vehicle.

PK ALIFT 2024-2 marks the second commercial aircraft loan ABS issuance in 2024, both of which have included AAA-rated tranches rated by both KBRA and DBRS.

The oversubscribed issuance saw broad participation from capital markets participants, including third-party insurers. Notes are secured by the proceeds of a portfolio of 129 senior-secured aviation loans across 73 narrowbody aircraft, 8 widebody aircraft, 32 freighter aircraft, 6 engines and 10 regional jet aircraft spanning 53 unique obligors.

“PK is thrilled to close its second Loan ABS issuance of 2024, demonstrating our commitment to the capital markets as a means to diversify our funding sources and illustrating our intentions as a repeat issuer, said Gary Rothschild, CEO of PK AirFinance. “We are excited to grow the PKAIR ABS shelf, which is instrumental in our ultimate goal of providing flexible and competitive financing solutions to our airline and lessor clients.”

Redding Ridge Asset Management and Mizuho Americas acted as co-structuring agents on the transaction. Mizuho Americas, BNP Paribas, RBC, Apollo Global Solutions served as Joint Lead Bookrunners, with Blackstone Securities Partners L.P. acting as Co-Manager.

Milbank LLP served as issuer counsel and Vedder Price acted as lender counsel.

About PK Airfinance

PK Airfinance is a premier specialized aircraft and aircraft engine lending business with deep expertise in the aviation finance sector. Its comprehensive origination, underwriting, structuring and syndication capabilities are delivered by a team of experienced professionals, whose extensive experience in varied products and geographies was built over several decades and industry cycles. To learn more, please visit https://www.apollopkairfinance.com/.

Contacts

Noah GunnGlobal Head of Investor Relations212-822-0540IR@apollo.com

Joanna RoseGlobal Head of Corporate Communications212-822-0491Communications@apollo.com