Apollo provides $1.25 billion financing tied to BMG–Concord combination
Apollo ($APO)-managed funds and affiliates provided a $1.25 billion capital solution supporting the combination of music businesses BMG and Concord. The transaction involves an equity investment in a BMG subsidiary holding Concord’s legacy asset-backed securitization structure, which is supported by a catalog containing more than one million songs. The investment gives Apollo’s funds a non-controlling interest and provides capital to repay certain existing securitization obligations. It is a fin