We have a new mortgage Real estate investment trust coming on the market. Apollo Residential Mortgage, Inc. (NYSE: AMTG) is coming public after pricing its initial public offering of 10,000,000 shares at $20.00 per share. The company is externally managed and advised by ARM Manager, LLC, a recently formed indirect subsidiary of Apollo Global Management, LLC (NYSE: APO).
The estimated net proceeds raised after the related expenses should be about $203 million. Proceeds will be deployed mostly for the purchase of Agency MBS assets. A 250,000 share private placement is being conducted with the offering as well under the same terms to certain affiliates and personnel of Apollo.
Morgan Stanley, Credit Suisse, and J.P. Morgan are the joint book runners of the offering. Co-managers are listed as JMP Securities, Nomura Securities, Stifel Nicolaus, and RBS Securities.
JON C. OGG
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
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