Business Context and Reporting Period
This Form 8-K was filed by Apollo Investment Corporation (not Midcap Financial Investment Corp) on March 1, 2019, reporting an event that occurred on February 27, 2019. The filing details an amendment to the Company's senior secured revolving credit agreement.
Key Financial Metrics
The filing does not provide data on revenue, profit, cash flow, margins, or liquidity ratios. The only financial metric disclosed relates to debt capacity:
- Previous Credit Commitment: $1,590,000,000
- Commitment Increase: $50,000,000
- New Total Commitment: $1,640,000,000
- Maximum Potential Capacity: $2,385,000,000 (via accordion provisions)
Material Changes
The Company amended its Senior Secured Agreement to increase total commitments by $50 million and added MUFG Union Bank, N.A. as a new lender. No other terms of the agreement were altered.
Outlook and Risks
The filing notes that the Senior Secured Agreement contains accordion provisions allowing the Company to increase total commitments up to $2,385,000,000 from new or existing lenders on the same terms. The filing explicitly states that the information provided is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 and is not incorporated by reference into other filings unless expressly stated.
Investor Verification Checklist
- Verify the registrant name is Apollo Investment Corporation, not Midcap Financial Investment Corp.
- Confirm the effective date of the credit agreement amendment (February 27, 2019).
- Review the full text of the Senior Secured Agreement to understand the specific terms of the accordion provision.
- Check subsequent filings to determine if the Company has drawn down on the increased $50 million commitment.