AP Alternative Assets, L.P.
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Publicatie datum
10 feb 2012 - 02:12
Statutaire naam
AP Alternative Assets, L.P.
Titel
AP Alternative Assets Releases Financial Results for the Three Months and Full Year Ended December 31, 2011 -- Announces Offer to Purchase Up To 2,717,391 Units in AP Alternative Assets for Up To a
Bericht
Guernsey, Channel Islands, February 10, 2012: AP Alternative Assets, L.P. (“AAA”, Euronext Amsterdam: AAA) today released its financial results for the three months and year ended December 31, 2011. AAA invests its capital through, and is the sole limited partner of, AAA Investments, L.P., which is referred to as the “Investment Partnership”.
Highlights
Capital Management Initiatives
• AAA announces a tender offer to purchase for cash up to 2,717,391 of its outstanding units at a range of $9.20 to $10.70 per unit for a maximum aggregate payment amount of up to $25 million (which amount AAA may increase up to a maximum of $50 million at its discretion and having regard to the level of participation and prices offered by unitholders. This may result in a corresponding increase in the maximum number of units which may be acquired).
• AAA intends to appoint J.P. Morgan Cazenove (“J.P. Morgan”) as its corporate broker.
• AAA names Gernot Lohr, a senior partner with Apollo Global Management, LLC, to the newly created position of Strategic Development Officer.
• On October 5, 2011 Standard and Poor’s Rating Services assigned a ‘BBB’ initial counterparty credit rating with a stable outlook to AAA and the Investment Partnership .
• On December 2, 2011 AAA refinanced its existing senior secured revolving credit facility with a senior secured term loan facility in an aggregate principal amount of $402.5 million that matures on June 30, 2015.
See attached for remainder of press release
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