Apollo Senior Floating Rate Fund, Inc
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number
811-22481
Apollo Senior Floating Rate Fund
Inc.
(Exact name of registrant as specified in charter)
9 West 57th Street
New York, New York
10019
(Address of principal executive offices) (Zip code)
Joseph Moroney, President
9 West
57th Street
New York, New York
10019
(Name and address of agent for service)
Registrant’s telephone number, including area code: (212) 515-3200
Date of fiscal year end: December 31
Date of reporting period: March 31, 2015
Item 1. Schedule of Investments.
The Schedule(s) of Investments is attached herewith.
Apollo Senior Floating Rate Fund Inc.
Schedule of Investments
March 31,
2015 (unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($)
|
|
|
Value ($)
|
|
| Senior Loans - 140.8%(a) |
|
|
|
|
|
|
|
|
| AEROSPACE & DEFENSE -
8.8% |
|
|
|
|
|
|
|
|
| Alion Science and Technology
Corp. |
|
|
|
|
|
|
|
|
| Tranche A Term Loan, 8.00%, 08/17/18(b) |
|
|
1,936,274 |
|
|
|
1,916,911 |
|
| Tranche B Term Loan, 11.00%, 08/16/19(b) |
|
|
1,828,289 |
|
|
|
1,791,723 |
|
| B/E Aerospace, Inc. |
|
|
|
|
|
|
|
|
| Term Loan, 4.00%, 12/16/21 |
|
|
2,641,308 |
|
|
|
2,666,044 |
|
| Camp International Holding Co. |
|
|
|
|
|
|
|
|
| 2013 First Lien Replacement Term Loan, 4.75%, 05/31/19 |
|
|
1,290,338 |
|
|
|
1,301,628 |
|
| 2013 Second Lien Replacement Term Loan, 8.25%, 11/29/19 |
|
|
1,000,000 |
|
|
|
1,001,875 |
|
| Deltek, Inc. |
|
|
|
|
|
|
|
|
| First Lien Term Loan, 4.50%, 10/10/18 |
|
|
845,674 |
|
|
|
849,505 |
|
| Second Lien Term Loan, 10.00%, 10/10/19 |
|
|
1,091,000 |
|
|
|
1,103,274 |
|
| Photonis Technologies SAS |
|
|
|
|
|
|
|
|
| Term Loan, 8.50%, 09/18/19(b) |
|
|
3,524,374 |
|
|
|
3,277,668 |
|
| SRA International, Inc. |
|
|
|
|
|
|
|
|
| Term Loan, 6.50%, 07/20/18 |
|
|
3,460,380 |
|
|
|
3,488,496 |
|
| TASC, Inc. |
|
|
|
|
|
|
|
|
| First Lien New Term Loan, 7.00%, 05/22/20 |
|
|
498,750 |
|
|
|
507,478 |
|
| First Lien Term Loan, 7.00%, 05/22/20 |
|
|
1,424,441 |
|
|
|
1,449,369 |
|
| Second Lien Term Loan, 12.00%, 05/21/21(c) |
|
|
2,233,239 |
|
|
|
2,372,816 |
|
| U.S. Joiner Holding Co. |
|
|
|
|
|
|
|
|
| Term Loan, 7.00%, 04/16/20(b) |
|
|
1,642,375 |
|
|
|
1,638,269 |
|
| Vencore, Inc. |
|
|
|
|
|
|
|
|
| Second Lien Term Loan, 9.00%, 05/23/20(b) |
|
|
606,000 |
|
|
|
612,818 |
|
| WP CPP Holdings, LLC |
|
|
|
|
|
|
|
|
| First Lien Term Loan, 4.75%, 12/28/19 |
|
|
1,154,780 |
|
|
|
1,161,708 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25,139,582 |
|
|
|
|
|
|
|
|
|
|
| AUTOMOTIVE - 1.6% |
|
|
|
|
|
|
|
|
| American Tire Distributors, Inc. |
|
|
|
|
|
|
|
|
| Initial Term Loan, 09/24/21(d) |
|
|
1,876,401 |
|
|
|
1,886,956 |
|
| New 2014 Initial Term Loan, 5.75%, 06/01/18 |
|
|
1,378,426 |
|
|
|
1,381,872 |
|
| Fram Group Holdings, Inc./Prestone Holdings, Inc. |
|
|
|
|
|
|
|
|
| Second Lien Term Loan, 10.50%, 01/29/18 |
|
|
1,490,285 |
|
|
|
1,457,998 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,726,826 |
|
|
|
|
|
|
|
|
|
|
| BANKING, FINANCE,
INSURANCE & REAL ESTATE - 9.9% |
|
| AmWINS Group, LLC |
|
|
|
|
|
|
|
|
| First Lien New Term Loan, 5.17%, 09/06/19 |
|
|
4,380,653 |
|
|
|
4,429,935 |
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($)
|
|
|
Value ($)
|
|
| BANKING, FINANCE, INSURANCE & REAL ESTATE (continued) |
|
| Asurion, LLC |
|
|
|
|
|
|
|
|
| Incremental Tranche B-1 Term Loan, 5.00%, 05/24/19 |
|
|
4,391,328 |
|
|
|
4,409,926 |
|
| Second Lien Term Loan, 8.50%, 03/03/21 |
|
|
1,562,000 |
|
|
|
1,572,153 |
|
| BATS Global Markets, Inc. |
|
|
|
|
|
|
|
|
| Term Loan, 02/19/18(d) |
|
|
2,167,684 |
|
|
|
2,173,103 |
|
| Hyperion Finance S.a.r.l. (United Kingdom) |
|
|
|
|
|
|
|
|
| Term Loan, 5.75%, 10/17/19(e) |
|
|
5,332,500 |
|
|
|
5,339,166 |
|
| Hyperion Insurance Group, Limited (United Kingdom) |
|
|
|
|
|
|
|
|
| Term Loan B, 03/26/22(d)(e) |
|
|
2,046,666 |
|
|
|
2,062,016 |
|
| Institutional Shareholder Services, Inc. |
|
|
|
|
|
|
|
|
| First Lien Term Loan, 5.00%, 04/30/21(b) |
|
|
2,228,138 |
|
|
|
2,222,567 |
|
| Medical Card System, Inc. |
|
|
|
|
|
|
|
|
| Term Loan, (9.00% cash, 3.00%, PIK), 11.24%, 03/17/17(b)(f) |
|
|
4,681,843 |
|
|
|
3,441,154 |
|
| MMM Holdings, Inc. |
|
|
|
|
|
|
|
|
| MMM Term Loan, 9.75%, 12/12/17(b) |
|
|
685,989 |
|
|
|
555,651 |
|
| MSO of Puerto Rico, Inc. |
|
|
|
|
|
|
|
|
| MSO Term Loan, 9.75%, 12/12/17(b) |
|
|
498,717 |
|
|
|
403,961 |
|
| Walter Investment Management Corp. |
|
|
|
|
|
|
|
|
| Tranche B Term Loan, 4.75%, 12/18/20 |
|
|
1,962,226 |
|
|
|
1,805,739 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
28,415,371 |
|
|
|
|
|
|
|
|
|
|
| BEVERAGE, FOOD &
TOBACCO - 4.5% |
|
| ARG IH Corp. |
|
|
|
|
|
|
|
|
| Term Loan, 4.75%, 11/15/20 |
|
|
1,896,000 |
|
|
|
1,906,466 |
|
| Dole Food Co., Inc. |
|
|
|
|
|
|
|
|
| Tranche B Term Loan, 4.50%, 11/01/18 |
|
|
2,245,472 |
|
|
|
2,255,655 |
|
| Hearthside Group Holdings, LLC |
|
|
|
|
|
|
|
|
| Term Loan, 4.50%, 06/02/21 |
|
|
3,122,166 |
|
|
|
3,144,942 |
|
| Performance Food Group, Inc. |
|
|
|
|
|
|
|
|
| Second Lien Initial Term Loan, 6.25%, 11/14/19 |
|
|
1,031,121 |
|
|
|
1,034,555 |
|
| PFS Holding Corp. |
|
|
|
|
|
|
|
|
| First Lien Term Loan, 4.50%, 01/31/21 |
|
|
2,782,890 |
|
|
|
2,474,462 |
|
| Winebow Holdings, Inc. (The Vintner Group, Inc.) |
|
|
|
|
|
|
|
|
| Second Lien Term Loan, 8.50%, 01/02/22(b) |
|
|
2,260,897 |
|
|
|
2,113,939 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,930,019 |
|
|
|
|
|
|
|
|
|
|
| CAPITAL EQUIPMENT -
1.4% |
|
| Tank Holding Corp. (Roto Acquisition Corp.) |
|
|
|
|
|
|
|
|
| Initial Term Loan, 5.25%, 03/16/22 |
|
|
1,472,000 |
|
|
|
1,479,360 |
|
| Zebra Technologies Corp. |
|
|
|
|
|
|
|
|
| Term Loan B, 4.75%, 10/27/21 |
|
|
2,377,600 |
|
|
|
2,408,212 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,887,572 |
|
|
|
|
|
|
|
|
|
|
See accompanying Notes to Schedule
of Investments. | 1
Apollo Senior Floating Rate Fund Inc.
Schedule of Investments (continued)
March 31, 2015 (unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($)
|
|
|
Value ($)
|
|
| Senior Loans(a) (continued) |
|
|
|
|
|
|
|
|
| CHEMICALS, PLASTICS & RUBBER - 2.9% |
|
| Allnex (Luxembourg) & Cy, S.C.A. (Luxembourg) |
|
|
|
|
|
|
|
|
| Tranche B-1 Term Loan, 4.50%, 10/03/19(e) |
|
|
423,600 |
|
|
|
425,188 |
|
| Allnex USA, Inc. (Luxembourg) |
|
|
|
|
|
|
|
|
| Tranche B-2 Term Loan, 4.50%, 10/03/19(e) |
|
|
219,785 |
|
|
|
220,610 |
|
| Chemstralia Pty, Ltd. (Chemstralia Finco, LLC) (Australia) |
|
|
|
|
|
|
|
|
| Initial Term Loan, 7.25%,
02/28/22(b)(e) |
|
|
2,272,727 |
|
|
|
2,250,000 |
|
| Onex Wizard Acquisition Co. II, S.C.A. (Luxembourg) |
|
|
|
|
|
|
|
|
| Initial Dollar Term Loan, 5.25%, 03/11/22(e) |
|
|
2,120,805 |
|
|
|
2,143,201 |
|
| Tronox Pigments (Netherlands), B.V. (Netherlands) |
|
|
|
|
|
|
|
|
| New Term Loan, 4.00%,
03/19/20(e) |
|
|
730,977 |
|
|
|
731,927 |
|
| U.S. Farathane, LLC |
|
|
|
|
|
|
|
|
| Initial Term Loan, 6.75%, 12/23/21(b) |
|
|
965,179 |
|
|
|
976,037 |
|
| Univar, Inc. |
|
|
|
|
|
|
|
|
| Term Loan B, 5.00%, 06/30/17 |
|
|
1,714,646 |
|
|
|
1,714,526 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,461,489 |
|
|
|
|
|
|
|
|
|
|
| CONSTRUCTION & BUILDING - 0.2% |
|
|
|
|
|
| Headwaters, Inc. |
|
|
|
|
|
|
|
|
| Term Loan B, 4.50%, 03/24/22(b) |
|
|
500,000 |
|
|
|
502,812 |
|
|
|
|
|
|
|
|
|
|
| CONSUMER GOODS: DURABLE - 0.1% |
|
| Britax U.S. Holdings, Inc. |
|
|
|
|
|
|
|
|
| First Lien Term Loan B, 4.50%, 10/15/20 |
|
|
462,737 |
|
|
|
365,562 |
|
|
|
|
|
|
|
|
|
|
| CONSUMER GOODS: NON-DURABLE - 4.1% |
|
| ABG Intermediate Holdings 2, LLC |
|
|
|
|
|
|
|
|
| First Lien Term Loan, 5.50%, 05/27/21 |
|
|
3,514,500 |
|
|
|
3,534,990 |
|
| BRG Sports, Inc. |
|
|
|
|
|
|
|
|
| First Lien Term Loan, 6.50%, 04/15/21(b) |
|
|
1,835,486 |
|
|
|
1,865,313 |
|
| Fender Musical Instruments Corp. |
|
|
|
|
|
|
|
|
| Initial Term Loan, 5.75%, 04/03/19 |
|
|
341,250 |
|
|
|
341,535 |
|
| Nine West Holdings, Inc. |
|
|
|
|
|
|
|
|
| Unsecured Initial Term Loan, 6.25%, 01/08/20 |
|
|
1,000,000 |
|
|
|
845,835 |
|
| Polyconcept Investments, B.V. |
|
|
|
|
|
|
|
|
| Term Loan, 6.00%, 06/28/19 |
|
|
3,771,424 |
|
|
|
3,761,996 |
|
| The Topps Co., Inc. |
|
|
|
|
|
|
|
|
| Term Loan, 7.25%, 10/02/18 |
|
|
1,380,817 |
|
|
|
1,365,283 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,714,952 |
|
|
|
|
|
|
|
|
|
|
| CONTAINERS, PACKAGING & GLASS - 3.4% |
|
| BWay Intermediate Co., Inc. |
|
|
|
|
|
|
|
|
| Initial Term Loan, 5.50%, 08/14/20 |
|
|
3,315,873 |
|
|
|
3,351,800 |
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($)
|
|
|
Value ($)
|
|
| CONTAINERS, PACKAGING & GLASS (continued) |
|
| Hoover Group |
|
|
|
|
|
|
|
|
| First Lien Term Loan, 7.75%, 01/07/22(b) |
|
|
1,186,940 |
|
|
|
1,109,789 |
|
| NVLX Acquisition, LLC |
|
|
|
|
|
|
|
|
| First Lien Term Loan, 6.00%, 12/05/21 |
|
|
2,553,623 |
|
|
|
2,579,159 |
|
| Pelican Products, Inc. |
|
|
|
|
|
|
|
|
| First Lien Term Loan, 5.25%, 04/10/20 |
|
|
2,765,202 |
|
|
|
2,759,160 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,799,908 |
|
|
|
|
|
|
|
|
|
|
| ENERGY: OIL & GAS - 8.0% |
|
|
|
|
|
|
|
|
| American Energy - Marcellus, LLC |
|
|
|
|
|
|
|
|
| First Lien Initial Term Loan, 5.25%, 08/04/20 |
|
|
3,061,946 |
|
|
|
2,610,309 |
|
| Azure Midstream Energy, LLC |
|
|
|
|
|
|
|
|
| Term Loan, 7.50%, 11/15/18 |
|
|
687,238 |
|
|
|
655,454 |
|
| BlackBrush Oil & Gas, L.P. |
|
|
|
|
|
|
|
|
| Closing Date Second Lien Term Loan, 7.50%, 07/30/21 |
|
|
2,733,766 |
|
|
|
2,221,185 |
|
| Chief Exploration & Development, LLC |
|
|
|
|
|
|
|
|
| Second Lien Term Loan, 7.50%, 05/16/21 |
|
|
1,950,784 |
|
|
|
1,818,131 |
|
| CITGO Holding, Inc. |
|
|
|
|
|
|
|
|
| Term Loan, 9.50%, 05/12/18 |
|
|
1,943,536 |
|
|
|
1,935,033 |
|
| Drillships Financing Holding, Inc. |
|
|
|
|
|
|
|
|
| Tranche B-1 Term Loan, 6.00%, 03/31/21 |
|
|
3,233,417 |
|
|
|
2,481,147 |
|
| Drillships Ocean Ventures, Inc. |
|
|
|
|
|
|
|
|
| Term Loan, 5.50%, 07/25/21 |
|
|
404,039 |
|
|
|
338,383 |
|
| EMG Utica, LLC |
|
|
|
|
|
|
|
|
| Term Loan, 4.75%, 03/27/20 |
|
|
2,107,474 |
|
|
|
1,978,391 |
|
| HGIM Corp. |
|
|
|
|
|
|
|
|
| Term Loan A, 5.00%, 06/18/18 |
|
|
4,636,189 |
|
|
|
3,517,708 |
|
| Power Borrower, LLC (PTS Buyer, Inc.) |
|
|
|
|
|
|
|
|
| First Lien Initial Term Loan, 4.25%, 05/06/20 |
|
|
907,183 |
|
|
|
902,647 |
|
| Power Buyer, LLC |
|
|
|
|
|
|
|
|
| First Lien Delayed Draw Term Loan, 4.25%, 05/06/20 |
|
|
48,565 |
|
|
|
48,322 |
|
| Southcross Energy Partners, L.P. |
|
|
|
|
|
|
|
|
| Initial Term Loan, 5.25%, 08/04/21(b) |
|
|
341,260 |
|
|
|
333,795 |
|
| Southcross Holdings Borrower, L.P. |
|
|
|
|
|
|
|
|
| Term Loan, 6.00%, 08/04/21 |
|
|
865,143 |
|
|
|
824,049 |
|
| Sprint Industrial Holdings, LLC |
|
|
|
|
|
|
|
|
| First Lien Term Loan, 7.00%, 05/14/19(b) |
|
|
2,157,402 |
|
|
|
2,038,745 |
|
| Targa Resources Corp. |
|
|
|
|
|
|
|
|
| Term Loan, 02/27/22(d) |
|
|
561,518 |
|
|
|
564,676 |
|
| W3 Co. |
|
|
|
|
|
|
|
|
| First Lien Term Loan, 5.75%, 03/13/20(b) |
|
|
920,153 |
|
|
|
805,134 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
23,073,109 |
|
|
|
|
|
|
|
|
|
|
2 | See accompanying Notes
to Schedule of Investments.
Apollo Senior Floating Rate Fund Inc.
Schedule of Investments (continued)
March 31, 2015 (unaudited)
|
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($)
|
|
|
Value ($)
|
|
|
|
|
|
|
| Senior Loans(a) (continued) |
|
|
|
|
|
|
|
|
|
|
| ENVIRONMENTAL INDUSTRIES - 1.4% |
|
|
|
|
|
|
|
| Emerald 2, Limited (United Kingdom) |
|
|
|
|
|
|
|
|
|
|
| Facility B-1 Term Loan, 5.00%, 05/14/21(e) |
|
|
3,956,154 |
|
|
|
3,896,812 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| FOREST PRODUCTS & PAPER - 1.4% |
|
|
|
|
|
|
|
| Caraustar Industries, Inc. |
|
|
|
|
|
|
|
|
|
|
| Incremental Term Loan, 8.00%, 05/01/19 |
|
|
1,645,875 |
|
|
|
1,639,703 |
|
|
|
| Term Loan, 8.00%, 05/01/19 |
|
|
2,309,305 |
|
|
|
2,298,717 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,938,420 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| HEALTHCARE & PHARMACEUTICALS - 12.5% |
|
|
|
|
|
|
|
| ABB/Con-Cise Optical Group, LLC |
|
|
|
|
|
|
|
|
|
|
| Term Loan B-1, 4.50%, 02/06/19 |
|
|
1,510,180 |
|
|
|
1,506,412 |
|
|
|
| Amneal Pharmaceuticals, LLC |
|
|
|
|
|
|
|
|
|
|
| Term Loan B, 5.00%, 11/01/19 |
|
|
2,674,742 |
|
|
|
2,695,646 |
|
|
|
| Ardent Medical Services, Inc. |
|
|
|
|
|
|
|
|
|
|
| First Lien Term Loan, 6.75%, 07/02/18 |
|
|
2,891,911 |
|
|
|
2,905,923 |
|
|
|
| ATI Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 5.25%, 12/20/19 |
|
|
1,509,583 |
|
|
|
1,519,961 |
|
|
|
| InVentiv Health, Inc. |
|
|
|
|
|
|
|
|
|
|
| Term Loan B-3, 7.75%, 05/15/18 |
|
|
723,864 |
|
|
|
726,579 |
|
|
|
| Opal Acquisition, Inc. |
|
|
|
|
|
|
|
|
|
|
| First Lien Term Loan, 5.00%, 11/27/20 |
|
|
5,906,434 |
|
|
|
5,916,889 |
|
|
|
| Premier Dental Services, Inc. |
|
|
|
|
|
|
|
|
|
|
| First Lien Term Loan, 6.00%, 11/01/18(b) |
|
|
5,189,391 |
|
|
|
4,774,239 |
|
|
|
| Smile Brands Group, Inc. |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 7.50%, 08/16/19 |
|
|
4,133,695 |
|
|
|
3,761,662 |
|
|
|
| Steward Health Care System, LLC |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 6.75%, 04/10/20(e) |
|
|
3,060,179 |
|
|
|
3,060,179 |
|
|
|
| Surgery Center Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
| First Lien Initial Term Loan, 5.25%, 11/03/20 |
|
|
2,141,577 |
|
|
|
2,152,295 |
|
|
|
| Tenet Healthcare Corp. |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 4.50%, 03/22/16(b) |
|
|
2,895,054 |
|
|
|
2,880,579 |
|
|
|
| U.S. Renal Care, Inc. |
|
|
|
|
|
|
|
|
|
|
| Second Lien Term Loan, 10.25%, 01/03/20(b) |
|
|
1,504,000 |
|
|
|
1,522,800 |
|
|
|
| Valeant Pharmaceuticals |
|
|
|
|
|
|
|
|
|
|
| International, Inc. (Canada) Tranche B Term Loan Series F-1, 03/11/22(d)(e) |
|
|
1,983,473 |
|
|
|
1,994,630 |
|
|
|
| Walgreens Infusion Services |
|
|
|
|
|
|
|
|
|
|
| Term Loan B, 03/25/22(b)(d) |
|
|
500,000 |
|
|
|
504,065 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
35,921,859 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| HIGH TECH INDUSTRIES - 7.7% |
|
|
|
|
|
|
|
| Compuware Corp. |
|
|
|
|
|
|
|
|
|
|
| First Lien Tranche B-1 Term Loan, 6.27%, 12/15/19 |
|
|
158,000 |
|
|
|
154,642 |
|
|
|
| Flexera Software, LLC |
|
|
|
|
|
|
|
|
|
|
| Second Lien Term Loan, 8.00%, 04/02/21(b) |
|
|
1,333,333 |
|
|
|
1,313,333 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($)
|
|
|
Value ($)
|
|
|
|
|
|
| HIGH TECH INDUSTRIES (continued) |
|
|
|
|
|
|
|
| Freescale Semiconductor, Inc. |
|
|
|
|
|
|
|
|
|
|
| Tranche B-5 Term Loan, 5.00%, 01/15/21 |
|
|
3,910,649 |
|
|
|
3,935,364 |
|
|
|
| GTCR Valor Companies, Inc. |
|
|
|
|
|
|
|
|
|
|
| First Lien Initial Term Loan, 6.00%, 05/30/21 |
|
|
2,378,084 |
|
|
|
2,372,151 |
|
|
|
| Kronos, Inc. |
|
|
|
|
|
|
|
|
|
|
| First Lien Incremental Term Loan, 4.50%, 10/30/19 |
|
|
778,458 |
|
|
|
781,167 |
|
|
|
| Landslide Holdings, Inc. (Crimson Acquisition Corp.) |
|
|
|
|
|
|
|
|
|
|
| Second Lien Term Loan, 8.25%, 02/25/21(b) |
|
|
563,000 |
|
|
|
546,109 |
|
|
|
| Lanyon Solutions, Inc. (Lanyon, Inc.) |
|
|
|
|
|
|
|
|
|
|
| First Lien Term Loan, 5.50%, 11/13/20 |
|
|
1,454,287 |
|
|
|
1,453,080 |
|
|
|
| MSC.Software Corp. |
|
|
|
|
|
|
|
|
|
|
| First Lien Initial Term Loan, 5.00%, 05/29/20 |
|
|
1,776,575 |
|
|
|
1,789,899 |
|
|
|
| Riverbed Technology, Inc. |
|
|
|
|
|
|
|
|
|
|
| Term Loan B, 02/25/22(d) |
|
|
1,416,761 |
|
|
|
1,432,345 |
|
|
|
| RP Crown Parent, LLC |
|
|
|
|
|
|
|
|
|
|
| First Lien New Term Loan,
12/21/18(d) |
|
|
3,098,674 |
|
|
|
3,057,678 |
|
|
|
| TIBCO Software, Inc. |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 6.50%, 12/04/20 |
|
|
2,000,000 |
|
|
|
2,003,750 |
|
|
|
| Vision Solutions, Inc. |
|
|
|
|
|
|
|
|
|
|
| First Lien Term Loan, 6.00%, 07/23/16(b) |
|
|
3,431,376 |
|
|
|
3,422,798 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
22,262,316 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| HOTEL, GAMING & LEISURE - 7.6% |
|
|
|
|
|
|
|
| Centaur Acquisition, LLC |
|
|
|
|
|
|
|
|
|
|
| Second Lien Term Loan, 8.75%, 02/20/20 |
|
|
826,000 |
|
|
|
837,358 |
|
|
|
| Delta 2 (Lux) S.a.r.l. (Luxembourg) |
|
|
|
|
|
|
|
|
|
|
| Facility B-3 (USD) Term Loan, 4.75%, 07/30/21(e) |
|
|
4,605,263 |
|
|
|
4,585,599 |
|
|
|
| Diamond Resorts Corp. |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 5.50%, 05/09/21 |
|
|
842,616 |
|
|
|
847,883 |
|
|
|
| Equinox Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
| First Lien New Initial Term Loan, 5.00%, 01/31/20 |
|
|
2,985,508 |
|
|
|
3,004,168 |
|
|
|
| Global Cash Access, Inc. |
|
|
|
|
|
|
|
|
|
|
| Term Loan B, 6.25%, 12/18/20 |
|
|
1,595,423 |
|
|
|
1,588,108 |
|
|
|
| Mohegan Tribal Gaming Authority |
|
|
|
|
|
|
|
|
|
|
| Term Loan B, 5.50%, 11/19/19 |
|
|
291,981 |
|
|
|
290,338 |
|
|
|
| Peppermill Casinos, Inc. |
|
|
|
|
|
|
|
|
|
|
| Term Loan B, 7.25%, 11/09/18(b) |
|
|
1,954,859 |
|
|
|
1,967,077 |
|
|
|
| Planet Fitness Holdings, LLC |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 03/31/21(d) |
|
|
3,965,790 |
|
|
|
3,975,704 |
|
|
|
| Scientific Games International, Inc. |
|
|
|
|
|
|
|
|
|
|
| Initial Term Loan B-2, 6.00%, 10/01/21 |
|
|
3,542,616 |
|
|
|
3,555,653 |
|
|
|
| Seaworld Parks & Entertainment, Inc. |
|
|
|
|
|
|
|
|
|
|
| Term Loan B-3, 05/14/20(b)(d) |
|
|
1,250,000 |
|
|
|
1,249,612 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
21,901,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying Notes to Schedule
of Investments. | 3
Apollo Senior Floating Rate Fund Inc.
Schedule of Investments (continued)
March 31, 2015 (unaudited)
|
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($)
|
|
|
Value ($)
|
|
|
|
|
|
|
|
| Senior Loans(a) (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
| MEDIA: ADVERTISING, PRINTING & PUBLISHING - 8.1% |
|
|
|
| Acosta Holdco, Inc. |
|
|
|
|
|
|
|
|
|
|
| Initial Term Loan, 5.00%, 09/26/21 |
|
|
2,072,475 |
|
|
|
2,096,277 |
|
|
|
| ALM Media, LLC |
|
|
|
|
|
|
|
|
|
|
| First Lien Term Loan, 5.50%, 07/31/20(b) |
|
|
3,946,216 |
|
|
|
3,877,157 |
|
|
|
| F&W Media, Inc. |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 7.75%, 06/30/19 |
|
|
3,848,763 |
|
|
|
3,733,300 |
|
|
|
| Information Resources, Inc. |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 4.75%, 09/30/20 |
|
|
1,984,887 |
|
|
|
2,003,912 |
|
|
|
| Merrill Communications, LLC |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 5.75%, 03/08/18(b) |
|
|
3,596,130 |
|
|
|
3,627,597 |
|
|
|
| The Reader’s Digest Association, Inc. |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 12.50%, 09/30/15(b) |
|
|
3,004,805 |
|
|
|
2,974,757 |
|
|
|
| Springer SBM Two GmbH (Germany) |
|
|
|
|
|
|
|
|
|
|
| Initial Term Loan B-3, 4.75%, 08/14/20(e) |
|
|
4,972,565 |
|
|
|
4,988,104 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
23,301,104 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| MEDIA: BROADCASTING & SUBSCRIPTION - 10.6% |
|
|
|
| Charter Communications
Operating, LLC (aka CCO Safari, LLC) |
|
|
|
|
|
|
|
|
|
|
| Term Loan G, 4.25%, 09/10/21 |
|
|
3,475,506 |
|
|
|
3,509,305 |
|
|
|
| Emmis Operating Co. |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 6.00%, 06/10/21 |
|
|
1,995,000 |
|
|
|
2,004,975 |
|
|
|
| Granite Broadcasting Corp. |
|
|
|
|
|
|
|
|
|
|
| First Lien Tranche B Term Loan, 6.75%, 05/23/18 |
|
|
1,412,927 |
|
|
|
1,412,934 |
|
|
|
| Hargray Communications Group, Inc.
(HCP Acquisition, LLC) |
|
|
|
|
|
|
|
|
|
|
| Initial Term Loan, 5.25%, 06/26/19 |
|
|
4,205,263 |
|
|
|
4,229,591 |
|
|
|
| Hemisphere Media Holdings, LLC |
|
|
|
|
|
|
|
|
|
|
| (Intermedia Espanol, Inc.) |
|
|
|
|
|
|
|
|
|
|
| New Term Loan B, 5.00%, 07/30/20 |
|
|
2,551,178 |
|
|
|
2,548,524 |
|
|
|
| Numericable U.S., LLC |
|
|
|
|
|
|
|
|
|
|
| Dollar Denominated Tranche B-1 |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 4.50%, 05/21/20 |
|
|
1,593,744 |
|
|
|
1,600,103 |
|
|
|
| Dollar Denominated Tranche B-2 |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 4.50%, 05/21/20 |
|
|
1,378,806 |
|
|
|
1,384,307 |
|
|
|
| SESAC Holdco II, LLC |
|
|
|
|
|
|
|
|
|
|
| First Lien Term Loan, 5.00%, 02/07/19 |
|
|
1,775,235 |
|
|
|
1,775,244 |
|
|
|
| Telecommunications Management, LLC |
|
|
|
|
|
|
|
|
|
|
| First Lien Initial Term Loan, 4.75%, 04/30/20 |
|
|
1,129,759 |
|
|
|
1,123,404 |
|
|
|
| Second Lien Initial Term Loan, 9.00%, 10/30/20(b) |
|
|
710,475 |
|
|
|
699,817 |
|
|
|
| WideOpenWest Finance, LLC |
|
|
|
|
|
|
|
|
|
|
| Term Loan B, 4.75%, 04/01/19 |
|
|
5,131,485 |
|
|
|
5,143,519 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($)
|
|
|
Value ($)
|
|
|
|
|
|
| MEDIA: BROADCASTING & SUBSCRIPTION (continued) |
|
|
|
| William Morris Endeavor |
|
|
|
|
|
|
|
|
|
|
| Entertainment, LLC (IMG |
|
|
|
|
|
|
|
|
|
|
| Worldwide Holdings, LLC) |
|
|
|
|
|
|
|
|
|
|
| First Lien Term Loan, 5.25%, 05/06/21 |
|
|
5,012,125 |
|
|
|
4,982,052 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30,413,775 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| MEDIA: DIVERSIFIED & PRODUCTION - 1.7% |
|
|
|
|
|
|
|
| Tech Finance & Co., S.C.A. (Luxembourg) |
|
|
|
|
|
|
|
|
|
|
| U.S. Term Loan, 5.50%, 07/11/20(e) |
|
|
4,801,580 |
|
|
|
4,842,105 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| METALS & MINING - 0.3% |
|
|
|
|
|
|
|
| Oxbow Carbon, LLC (Oxbow Calcining, LLC) |
|
|
|
|
|
|
|
|
|
|
| Second Lien Initial Term Loan, 8.00%, 01/17/20 |
|
|
1,025,641 |
|
|
|
848,718 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| RETAIL - 7.7% |
|
|
|
|
|
|
|
| Charming Charlie, LLC |
|
|
|
|
|
|
|
|
|
|
| Initial Term Loan, 9.00%,
12/24/19(b) |
|
|
5,295,414 |
|
|
|
5,335,130 |
|
|
|
| David’s Bridal, Inc. |
|
|
|
|
|
|
|
|
|
|
| Initial Term Loan, 10/11/19(d) |
|
|
321,997 |
|
|
|
313,384 |
|
|
|
| Dollar Tree, Inc. |
|
|
|
|
|
|
|
|
|
|
| Initial Term Loan B, 4.25%, 03/09/22 |
|
|
2,434,032 |
|
|
|
2,462,595 |
|
|
|
| HMK Intermediate Holdings, LLC |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 5.00%, 03/30/19(b) |
|
|
1,098,972 |
|
|
|
1,093,477 |
|
|
|
| Mattress Holding Corp. |
|
|
|
|
|
|
|
|
|
|
| Initial Term Loan, 5.25%, 10/20/21 |
|
|
2,756,782 |
|
|
|
2,783,495 |
|
|
|
| PetSmart, Inc. |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 5.00%, 03/11/22 |
|
|
5,391,548 |
|
|
|
5,438,239 |
|
|
|
| Sears Roebuck Acceptance Corp. (KMART Corp.) |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 06/30/18(d) |
|
|
2,000,000 |
|
|
|
1,974,370 |
|
|
|
| Smart & Final, Inc. |
|
|
|
|
|
|
|
|
|
|
| First Lien Term Loan, 4.75%, 11/15/19 |
|
|
2,245,543 |
|
|
|
2,260,285 |
|
|
|
| Vince, LLC (Vince Intermediate Holding, LLC) |
|
|
|
|
|
|
|
|
|
|
| Term Loan B, 5.79%, 11/27/19 |
|
|
519,331 |
|
|
|
520,954 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
22,181,929 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SERVICES: BUSINESS - 13.6% |
|
|
|
|
|
|
|
| Aptean, Inc. |
|
|
|
|
|
|
|
|
|
|
| First Lien Term Loan, 5.25%, 02/26/20 |
|
|
3,487,770 |
|
|
|
3,426,734 |
|
|
|
| Brock Holdings III, Inc. |
|
|
|
|
|
|
|
|
|
|
| First Lien Term Loan, 6.00%, 03/16/17 |
|
|
607,070 |
|
|
|
597,205 |
|
|
|
| Carecore National, LLC |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 5.50%, 03/05/21 |
|
|
1,409,547 |
|
|
|
1,420,119 |
|
|
|
| Catalent Pharma Solutions, Inc. |
|
|
|
|
|
|
|
|
|
|
| Dollar Term Loan, 4.25%, 05/20/21 |
|
|
4,267,492 |
|
|
|
4,292,585 |
|
|
|
| EIG Investors Corp. |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 5.00%, 11/09/19 |
|
|
3,655,156 |
|
|
|
3,675,735 |
|
|
|
4 | See accompanying Notes
to Schedule of Investments.
Apollo Senior Floating Rate Fund Inc.
Schedule of Investments (continued)
March
31, 2015 (unaudited)
|
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($)
|
|
|
|
| Senior Loans(a) (continued) |
|
|
|
| SERVICES: BUSINESS (continued)
|
|
|
|
| Element Materials Technology |
|
|
|
|
|
|
|
|
|
|
| Group U.S. Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
| (Element Materials Technology |
|
|
|
|
|
|
|
|
|
|
| Holdings U.K., Ltd.) |
|
|
|
|
|
|
|
|
|
|
| Term Loan B, 5.25%, 08/06/21 |
|
|
503,878 |
|
|
|
505,138 |
|
|
|
| Evergreen Skills Lux S.a.r.l. |
|
|
|
|
|
|
|
|
|
|
| First Lien Initial Term Loan, |
|
|
|
|
|
|
|
|
|
|
| 04/28/21(d) |
|
|
2,034,800 |
|
|
|
2,015,093 |
|
|
|
| Second Lien Initial Term Loan, |
|
|
|
|
|
|
|
|
|
|
| 9.25%, 04/28/22 |
|
|
1,000,000 |
|
|
|
945,500 |
|
|
|
| GCA Services Group, Inc. |
|
|
|
|
|
|
|
|
|
|
| Second Lien Initial Term Loan, |
|
|
|
|
|
|
|
|
|
|
| 9.25%, 11/01/20(b) |
|
|
834,400 |
|
|
|
831,270 |
|
|
|
| Genex Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
| First Lien Term Loan B, 5.25%, |
|
|
|
|
|
|
|
|
|
|
| 05/28/21 |
|
|
1,423,943 |
|
|
|
1,429,283 |
|
|
|
| IBC Capital I, Limited |
|
|
|
|
|
|
|
|
|
|
| First Lien Initial Term Loan, |
|
|
|
|
|
|
|
|
|
|
| 4.75%, 09/09/21 |
|
|
2,000,000 |
|
|
|
1,998,750 |
|
|
|
| IBC Capital, Limited |
|
|
|
|
|
|
|
|
|
|
| Second Lien Term Loan, 8.00%, 09/09/22 |
|
|
529,000 |
|
|
|
530,322 |
|
|
|
| Infogroup, Inc. |
|
|
|
|
|
|
|
|
|
|
| Term Loan B, 7.50%, 05/26/18 |
|
|
3,480,634 |
|
|
|
3,306,602 |
|
|
|
| Onex Carestream Finance, L.P. |
|
|
|
|
|
|
|
|
|
|
| First Lien 2013 Term Loan, |
|
|
|
|
|
|
|
|
|
|
| 5.00%, 06/07/19 |
|
|
2,417,888 |
|
|
|
2,429,639 |
|
|
|
| Second Lien Term Loan,
9.50%, 12/07/19 |
|
|
2,415,389 |
|
|
|
2,415,993 |
|
|
|
| Packers Holdings, LLC |
|
|
|
|
|
|
|
|
|
|
| Term Loan B, 5.00%, 12/02/21 |
|
|
498,750 |
|
|
|
503,114 |
|
|
|
| SGS Cayman, L.P. (Cayman Islands) |
|
|
|
|
|
|
|
|
|
|
| Initial Cayman Term Loan, |
|
|
|
|
|
|
|
|
|
|
| 6.00%, 04/23/21(e) |
|
|
431,493 |
|
|
|
434,369 |
|
|
|
| SNL Financial, LC |
|
|
|
|
|
|
|
|
|
|
| New Term Loan, 4.50%, |
|
|
|
|
|
|
|
|
|
|
| 10/23/18 |
|
|
946,246 |
|
|
|
948,612 |
|
|
|
| Stafford Logistics, Inc. (dba |
|
|
|
|
|
|
|
|
|
|
| Custom Ecology, Inc.) |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 6.75%, 06/26/19(b) |
|
|
2,427,875 |
|
|
|
2,330,760 |
|
|
|
| Sutherland Global Services, Inc. |
|
|
|
|
|
|
|
|
|
|
| Initial U.S. Term Loan, 6.00%, |
|
|
|
|
|
|
|
|
|
|
| 04/23/21 |
|
|
1,853,674 |
|
|
|
1,866,028 |
|
|
|
| Tyche Holdings, LLC (aka TransFirst, Inc.) |
|
|
|
|
|
|
|
|
|
|
| First Lien Term Loan, 5.50%, |
|
|
|
|
|
|
|
|
|
|
| 11/12/21 |
|
|
3,286,473 |
|
|
|
3,319,338 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
39,222,189 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SERVICES: CONSUMER - 2.6%
|
|
|
|
| Laureate Education, Inc. |
|
|
|
|
|
|
|
|
|
|
| 2018 New Series Extended Term |
|
|
|
|
|
|
|
|
|
|
| Loan, 5.00%, 06/15/18 |
|
|
5,202,201 |
|
|
|
4,890,069 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($)
|
|
|
|
| SERVICES: CONSUMER (continued)
|
|
|
|
| NVA Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
| First Lien Term Loan, |
|
|
|
|
|
|
|
|
|
|
| 08/14/21(d) |
|
|
1,740,739 |
|
|
|
1,745,091 |
|
|
|
| Second Lien Term Loan, 8.00%, |
|
|
|
|
|
|
|
|
|
|
| 08/14/22(b) |
|
|
955,026 |
|
|
|
958,607 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,593,767 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TELECOMMUNICATIONS - 13.3%
|
|
|
|
|
|
|
|
|
|
|
| Altice Financing, S.A. |
|
|
|
|
|
|
|
|
|
|
| (Luxembourg) |
|
|
|
|
|
|
|
|
|
|
| Dollar Denominated Tranche |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 5.25%, 02/04/22(e) |
|
|
1,022,821 |
|
|
|
1,034,011 |
|
|
|
| Avaya, Inc. |
|
|
|
|
|
|
|
|
|
|
| Term Loan B-3, 4.67%, 10/26/17. |
|
|
2,236,706 |
|
|
|
2,204,173 |
|
|
|
| Term Loan B-6, 6.50%, 03/31/18. |
|
|
1,869,745 |
|
|
|
1,868,193 |
|
|
|
| CWC Cayman Finance, Limited |
|
|
|
|
|
|
|
|
|
|
| (Cayman Islands) |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 5.50%, 04/28/17(e) |
|
|
1,420,327 |
|
|
|
1,424,751 |
|
|
|
| Unsecured Term Loan, 6.50%, |
|
|
|
|
|
|
|
|
|
|
| 04/28/17(b)(e) |
|
|
1,470,588 |
|
|
|
1,477,941 |
|
|
|
| Global Tel*Link Corp. |
|
|
|
|
|
|
|
|
|
|
| First Lien Term Loan, 5.00%, |
|
|
|
|
|
|
|
|
|
|
| 05/23/20 |
|
|
6,542,738 |
|
|
|
6,475,675 |
|
|
|
| Grande Communications |
|
|
|
|
|
|
|
|
|
|
| Networks, LLC |
|
|
|
|
|
|
|
|
|
|
| Term Loan B, 4.50%, 05/29/20 |
|
|
4,026,492 |
|
|
|
3,996,314 |
|
|
|
| Integra Telecom Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
| Replacement Term Loan, 5.25%, |
|
|
|
|
|
|
|
|
|
|
| 02/22/19 |
|
|
4,535,461 |
|
|
|
4,541,130 |
|
|
|
| Level 3 Financing, Inc. |
|
|
|
|
|
|
|
|
|
|
| Tranche B 2022 Term Loan, |
|
|
|
|
|
|
|
|
|
|
| 4.50%, 01/31/22 |
|
|
3,614,316 |
|
|
|
3,638,604 |
|
|
|
| LTS Buyer, LLC (Sidera Networks, Inc.) |
|
|
|
|
|
|
|
|
|
|
| Second Lien Term Loan, 8.00%, |
|
|
|
|
|
|
|
|
|
|
| 04/12/21 |
|
|
456,665 |
|
|
|
455,523 |
|
|
|
| Ntelos, Inc. |
|
|
|
|
|
|
|
|
|
|
| Term Loan B, 5.75%, 11/09/19(b) . |
|
|
4,018,686 |
|
|
|
3,456,070 |
|
|
|
| Securus Technologies Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
| First Lien Initial Term Loan, |
|
|
|
|
|
|
|
|
|
|
| 4.75%, 04/30/20 |
|
|
2,550,194 |
|
|
|
2,520,433 |
|
|
|
| Second Lien Initial Term Loan, |
|
|
|
|
|
|
|
|
|
|
| 9.00%, 04/30/21 |
|
|
2,800,000 |
|
|
|
2,766,400 |
|
|
|
| The TelX Group, Inc. |
|
|
|
|
|
|
|
|
|
|
| Second Lien Initial Term Loan, |
|
|
|
|
|
|
|
|
|
|
| 7.50%, 04/09/21 |
|
|
600,000 |
|
|
|
594,750 |
|
|
|
| U.S. TelePacific Corp. |
|
|
|
|
|
|
|
|
|
|
| Advance Term Loan, 6.00%, |
|
|
|
|
|
|
|
|
|
|
| 11/25/20 |
|
|
1,788,081 |
|
|
|
1,789,484 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
38,243,452 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TRANSPORTATION: CARGO - 2.5%
|
|
|
|
|
|
|
|
| Carrix, Inc. |
|
|
|
|
|
|
|
|
|
|
| Term Loan, 4.50%, 01/07/19 |
|
|
4,030,741 |
|
|
|
3,755,300 |
|
|
|
| OSG Bulk Ships, Inc. |
|
|
|
|
|
|
|
|
|
|
| Initial Term Loan, 5.25%, |
|
|
|
|
|
|
|
|
|
|
| 08/05/19(b) |
|
|
1,047,088 |
|
|
|
1,042,506 |
|
|
|
See accompanying Notes to Schedule
of Investments. | 5
Apollo Senior Floating Rate Fund Inc.
Schedule of Investments (continued)
March 31, 2015 (unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($)
|
|
|
Value ($)
|
|
| Senior Loans(a) (continued) |
|
| TRANSPORTATION: CARGO
(continued) |
|
| Pilot Travel Centers, LLC |
|
|
|
|
|
|
|
|
| Initial Tranche B Term Loan, 4.25%, 10/01/21 |
|
|
2,329,776 |
|
|
|
2,354,320 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,152,126 |
|
|
|
|
|
|
|
|
|
|
| TRANSPORTATION: CONSUMER - 1.8% |
|
| Blue Bird Body Co. |
|
|
|
|
|
|
|
|
| Facility Term Loan, 6.50%, 06/26/20(b) |
|
|
1,459,467 |
|
|
|
1,461,291 |
|
| Landmark Aviation FBO Canada, Inc. (Canada) |
|
|
|
|
|
|
|
|
| Canadian Term Loan, 4.75%, 10/25/19(e) |
|
|
93,429 |
|
|
|
93,697 |
|
| LM U.S. Member, LLC (LM U.S. Corp. Acquisition, Inc.) |
|
|
|
|
|
|
|
|
| First Lien Initial Term Loan, 4.75%, 10/25/19 |
|
|
2,354,007 |
|
|
|
2,360,775 |
|
| Travel Leaders Group, LLC |
|
|
|
|
|
|
|
|
| Tranche B Term Loan, 7.00%, 12/05/18(b) |
|
|
1,145,089 |
|
|
|
1,147,952 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,063,715 |
|
|
|
|
|
|
|
|
|
|
| UTILITIES: ELECTRIC - 3.1% |
|
|
|
|
|
| Granite Acquisition, Inc. |
|
|
|
|
|
|
|
|
| First Lien Term Loan B, 5.00%, 12/17/21 |
|
|
2,408,397 |
|
|
|
2,442,524 |
|
| First Lien Term Loan C, 5.00%, 12/17/21 |
|
|
106,235 |
|
|
|
107,740 |
|
| Second Lien Term Loan B, 8.25%, 12/19/22 |
|
|
1,309,090 |
|
|
|
1,331,181 |
|
| Panda Sherman Power, LLC Construction Term Loan |
|
|
|
|
|
|
|
|
| Advances, 9.00%, 09/14/18(b) |
|
|
1,194,374 |
|
|
|
1,191,388 |
|
| Pike Corp. |
|
|
|
|
|
|
|
|
| First Lien Initial Term Loan, 5.50%, 12/22/21 |
|
|
2,869,367 |
|
|
|
2,882,523 |
|
| Second Lien Term Loan, 9.50%, 06/22/22 |
|
|
1,000,000 |
|
|
|
995,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,950,356 |
|
|
|
|
|
|
|
|
|
|
| Total Senior Loans
(Cost $408,269,483) |
|
|
|
|
|
|
404,751,345 |
|
|
|
|
|
|
|
|
|
|
| Corporate Notes and Bonds - 8.3% |
|
|
|
|
|
| BANKING, FINANCE, INSURANCE & REAL ESTATE - 4.1% |
|
| First Data Corp. |
|
|
|
|
|
|
|
|
| 12.63%, 01/15/21 |
|
|
10,000,000 |
|
|
|
11,875,000 |
|
|
|
|
|
|
|
|
|
|
| CHEMICALS, PLASTICS & RUBBER - 0.1% |
|
| Magnetation, LLC / Mag Finance Corp. |
|
|
|
|
|
|
|
|
| 11.00%, 05/15/18(g) |
|
|
753,000 |
|
|
|
389,678 |
|
|
|
|
|
|
|
|
|
|
| HEALTHCARE & PHARMACEUTICALS - 1.2% |
|
| Valeant Pharmaceuticals International, Inc. (Canada) |
|
|
|
|
|
|
|
|
| 7.50%, 07/15/21(e)(g) |
|
|
3,200,000 |
|
|
|
3,472,992 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($)
|
|
|
Value ($)
|
|
| HIGH TECH INDUSTRIES - 0.2% |
|
|
|
|
|
| TIBCO Software, Inc. |
|
|
|
|
|
|
|
|
| 11.38%, 12/01/21(g) |
|
|
683,000 |
|
|
|
694,099 |
|
|
|
|
|
|
|
|
|
|
| MEDIA: ADVERTISING, PRINTING & PUBLISHING - 0.6% |
|
| Acosta, Inc. |
|
|
|
|
|
|
|
|
| 7.75%, 10/01/22(g) |
|
|
1,600,000 |
|
|
|
1,658,000 |
|
|
|
|
|
|
|
|
|
|
| MEDIA: BROADCASTING & SUBSCRIPTION - 1.0% |
|
| Columbus International, Inc. (Barbados) |
|
|
|
|
|
|
|
|
| 7.38%, 03/30/21(e)(g) |
|
|
1,285,000 |
|
|
|
1,355,675 |
|
| Radio One, Inc. |
|
|
|
|
|
|
|
|
| 9.25%, 02/15/20(g) |
|
|
1,484,000 |
|
|
|
1,424,640 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,780,315 |
|
|
|
|
|
|
|
|
|
|
| MEDIA: DIVERSIFIED & PRODUCTION - 1.1% |
|
| SiTV, Inc. |
|
|
|
|
|
|
|
|
| 10.38%, 07/01/19(g) |
|
|
3,420,000 |
|
|
|
3,078,000 |
|
|
|
|
|
|
|
|
|
|
| Total Corporate Notes and Bonds
(Cost $22,957,861) |
|
|
|
|
|
|
23,948,084 |
|
|
|
|
|
|
|
|
|
|
6 | See accompanying Notes
to Schedule of Investments.
Apollo Senior Floating Rate Fund Inc.
Schedule of Investments (continued)
March 31, 2015 (unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Share
Quantity
|
|
|
Value ($)
|
|
| Common Stock - 0.4% |
|
|
|
|
|
|
|
|
| MEDIA: ADVERTISING,
PRINTING & PUBLISHING - 0.4% |
|
| The Reader’s Digest
Association,
Inc. (b)(h) |
|
|
50,210 |
|
|
|
1,255,250 |
|
|
|
|
|
|
|
|
|
|
| Total Common Stock
(Cost $5,212,858) |
|
|
|
|
|
|
1,255,250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Preferred Stock - 1.4% |
|
|
|
|
|
|
|
|
|
| BANKING, FINANCE, INSURANCE & REAL ESTATE - 1.4% |
|
| Watford Holdings, Ltd. (Bermuda)
8.50% (b)(e) |
|
|
160,000 |
|
|
|
3,920,000 |
|
|
|
|
|
|
|
|
|
|
| Total Preferred Stock
(Cost $3,920,000) |
|
|
|
|
|
|
3,920,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Share
Quantity
|
|
|
Value ($)
|
|
| Warrants - 0.0% |
|
|
|
|
|
|
|
|
| BANKING, FINANCE, INSURANCE
& REAL ESTATE - 0.0% |
|
| Medical Card System, Inc.
07/26/18(b)(h) |
|
|
54,913 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
| Total Warrants
(Cost $
—) |
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
| Total Investments-150.9% |
|
|
|
|
|
|
433,874,679 |
|
| (Cost of $ 440,360,202)(i) |
|
|
|
|
|
|
|
|
| Other Assets & Liabilities, Net-1.0% |
|
|
|
|
|
|
2,823,568 |
|
| Loan Outstanding-(51.9)% |
|
|
|
|
|
|
(149,269,000) |
|
|
|
|
|
|
|
|
|
|
| Net Assets (Applicable to Common
Shares)-100.0% |
|
|
|
|
|
|
287,429,247 |
|
|
|
|
|
|
|
|
|
|
| (a) |
“Senior Loans” are senior, secured loans made to companies whose debt is rated below investment grade and investments with similar characteristics. Senior Loans typically hold a first lien priority and pay
interest at rates that are determined periodically on the basis of a floating base lending rate plus a spread. Unless otherwise identified, all Senior Loans carry a variable rate of interest. These base lending rates are primarily the London
Interbank Offered Rate (“LIBOR”) and secondarily the prime rate offered by one or more major U.S. banks and the certificate of deposit rate used by commercial lenders. The rates shown represent the weighted average rate at March 31,
2015. Senior Loans are generally not registered under the Securities Act of 1933 (the “1933 Act”) and often contain certain restrictions on resale and cannot be sold publicly. Senior Loans often require prepayments from excess cash flow or
permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual maturity may be substantially less than the
stated maturity shown. |
| |
Senior Loan assets may have additional unfunded loan commitments. As of March 31, 2015, the Apollo Senior Floating Rate Fund Inc. had unfunded loan commitments, which could be extended at the option of the
borrower, pursuant to the following loan agreements: |
|
|
|
|
|
|
|
| Borrower |
|
Unfunded Loan
Commitments |
|
|
|
| |
|
|
| Charger OpCo B.V. (Oak Tea, Inc.) |
|
$ |
3,745,300 |
|
|
| Valeant Pharmaceuticals International, Inc. |
|
|
1,527,802 |
|
|
|
|
|
|
|
|
| Total Unfunded Loan Commitments |
|
$ |
5,273,102 |
|
|
|
|
|
|
|
|
| (b) |
Fair Value Level 3 security. All remaining securities are categorized as Level 2. |
| (d) |
All or a portion of this Senior Loan position has not settled. Full contract rates do not take effect until settlement date. |
| (e) |
Foreign issuer traded in U.S. dollars. |
| (f) |
Represents a payment-in-kind (“PIK”) security which may pay interest in additional principal amount. |
| (g) |
Securities exempt from registration pursuant to Rule 144A under the 1933 Act. These securities may only be resold in transactions exempt from registration to qualified institutional buyers. At March 31, 2015, these
securities amounted to $12,073,084, or 4.2% of net assets. |
| (h) |
Non income-producing asset. |
| (i) |
Cost for U.S. federal income tax purposes differs from book basis primarily due to the deferral of losses from wash sales. Unrealized appreciation and depreciation on investments are as follows: |
|
|
|
|
|
|
|
| |
|
|
|
|
|
| Gross unrealized appreciation |
|
$ |
6,189,366 |
|
|
| Gross unrealized depreciation |
|
|
(12,677,015) |
|
|
|
|
|
|
|
|
| Net unrealized depreciation |
|
$ |
(6,487,649) |
|
|
|
|
|
|
|
|
See accompanying Notes to Schedule
of Investments. | 7
Apollo Senior Floating Rate Fund Inc.
Notes to Schedule of Investments
March 31, 2015 (unaudited)
Security
Valuation
Apollo Senior Floating Rate Fund Inc. (the “Fund”) values its investments primarily using the mean of the bid and ask prices
provided by a nationally recognized security pricing service or broker. Senior Loans, corporate notes and bonds, common stock, preferred stock and warrants are priced based on valuations provided by an approved independent pricing service or broker,
if available. If market or broker quotations are not available or a price is not available from an independent pricing service or broker, or if the price provided by the independent pricing service or broker is believed to be unreliable, the
security will be fair valued pursuant to procedures adopted by the Fund’s board of directors (the “Board”). In general, the fair value of a security is the amount that the Fund might reasonably expect to receive upon the sale of an
asset or pay to transfer a liability in an orderly transaction between willing market participants at the reporting date. Fair value procedures generally take into account any factors deemed relevant, which may include, among others, (i) the
nature and pricing history of the security, (ii) the liquidity or illiquidity of the market for the particular security, (iii) recent purchases or sales transactions for the particular security or similar securities and (iv) press
releases and other information published about the issuer. In these cases, the Fund’s net asset value (“NAV”) will reflect the affected portfolio securities’ fair value as determined in the judgment of the Board or its designee
instead of being determined by the market. Using a fair value pricing methodology to value securities may result in a value that is different from a security’s most recent sale price and from the prices used by other investment companies to
calculate their NAV. Determination of fair value is uncertain because it involves subjective judgments and estimates. There can be no assurance that the Fund’s valuation of a security will not differ from the amount that it realizes upon the
sale of such security.
Fair Value Measurements
The Fund has performed an analysis of all existing investments to determine the significance and character of all inputs to their fair value
determination. The levels of fair value inputs used to measure the Fund’s investments are characterized into a fair value hierarchy. The three levels of the fair value hierarchy are described below:
Level 1 — Quoted unadjusted prices for identical assets and liabilities in active markets to which the Fund has access at the date of measurement;
Level 2 — Quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in
markets that are not active, but are valued based on executed trades, broker quotations that constitute an executable price, and alternative pricing sources supported by observable inputs which, in each case, are either directly or indirectly
observable for the asset in connection with market data at the measurement date; and
Level 3 — Model derived valuations in which one or more
significant inputs or significant value drivers are unobservable. In certain cases, investments classified within Level 3 may include securities for which the Fund has obtained indicative quotes from broker-dealers that do not necessarily represent
prices the broker may be willing to trade on, as such quotes can be subject to material management judgment. Unobservable inputs are those inputs that reflect the Fund’s own assumptions that market participants would use to price the asset or
liability based on the best available information.
At the end of each reporting period, management evaluates the Level 2 and Level 3 assets, if
any, for changes in liquidity, including but not limited to: whether a broker is willing to execute at the quoted price, the depth and consistency of prices from independent pricing services, and the existence of contemporaneous, observable trades
in the market.
8 |
Apollo Senior Floating Rate Fund Inc.
Notes to Schedule of Investments (continued)
March 31, 2015 (unaudited)
The valuation techniques used by the Fund to measure fair value at March 31, 2015 maximized the
use of observable inputs and minimized the use of unobservable inputs. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Transfers into and out of the
levels are recognized at the value at the end of the period. A summary of the Fund’s investments categorized in the fair value hierarchy as of March 31, 2015 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Apollo Senior Floating Rate Fund Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Total Fair Value at
March 31, 2015 |
|
Level 1
Quoted Price |
|
Level 2
Significant Observable Inputs |
|
Level 3
Significant Unobservable Inputs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash and Cash Equivalents |
|
|
$ |
10,479,917 |
|
|
|
$ |
10,479,917 |
|
|
|
$ |
— |
|
|
|
$ |
— |
|
|
|
| Senior Loans |
|
|
|
404,751,345 |
|
|
|
|
— |
|
|
|
|
327,208,727 |
|
|
|
|
77,542,618 |
|
|
|
| Corporate Notes and Bonds |
|
|
|
23,948,084 |
|
|
|
|
— |
|
|
|
|
23,948,084 |
|
|
|
|
— |
|
|
|
| Common Stock |
|
|
|
1,255,250 |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
1,255,250 |
|
|
|
| Preferred Stock |
|
|
|
3,920,000 |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
3,920,000 |
|
|
|
| Warrants |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
| Unrealized appreciation on Unfunded Loan Commitments |
|
|
|
77,232 |
|
|
|
|
— |
|
|
|
|
77,232 |
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Net Assets |
|
|
$ |
444,431,828 |
|
|
|
$ |
10,479,917 |
|
|
|
$ |
351,234,043 |
|
|
|
$ |
82,717,868 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following is a reconciliation of Level 3 holdings for which significant unobservable inputs were used in determining
fair value as of March 31, 2015.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Apollo Senior Floating Rate Fund Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Total Fair
Value |
|
Senior Loans |
|
Corporate
Notes
and Bonds |
|
|
|
Common
Stock |
|
|
|
Preferred
Stock |
|
|
|
Warrants |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Fair Value, beginning of period |
|
|
$ |
87,829,716 |
|
|
|
$ |
82,651,446 |
|
|
|
$ |
— |
|
|
|
|
|
$ |
1,255,250 |
|
|
|
|
|
$ |
3,920,000 |
|
|
|
|
|
$ |
3,020 |
|
|
|
| Purchases, including capitalized PIK |
|
|
|
12,317,317 |
|
|
|
|
12,317,317 |
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
| Sales |
|
|
|
(5,466,096 |
) |
|
|
|
(5,466,096 |
) |
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
| Accretion/(amortization) of discounts/ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (premiums) |
|
|
|
39,591 |
|
|
|
|
39,591 |
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
| Net realized gain/(loss) |
|
|
|
5,064 |
|
|
|
|
5,064 |
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
| Change in net unrealized appreciation/ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (depreciation) |
|
|
|
(972,205 |
) |
|
|
|
(969,185 |
) |
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
|
|
(3,020) |
|
|
|
| Transfers into Level 3 |
|
|
|
18,097,019 |
|
|
|
|
18,097,019 |
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
| Transfers out of Level 3 |
|
|
|
(29,132,538 |
) |
|
|
|
(29,132,538 |
) |
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Fair Value, end of period |
|
|
$ |
82,717,868 |
|
|
|
$ |
77,542,618 |
|
|
|
$ |
— |
|
|
|
|
|
$ |
1,255,250 |
|
|
|
|
|
$ |
3,920,000 |
|
|
|
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments were transferred into Level 3 during the three months ended March 31, 2015 due to a decrease in the
avail- ability of qualified observable inputs obtained to support the fair value of each investment as assessed by Apollo Credit Management, LLC, the Fund’s investment adviser (the “Adviser”). Transfers out of Level 3 during the three
months ended March 31, 2015 were due to an increase in the availability of qualified observable inputs as assessed by the Adviser. There were no transfers between Level 1 and Level 2 fair value measurement during the period shown. The net
change in unrealized appreciation/(depreciation) attributable to Level 3 investments still held at March 31, 2015 was $(540,149).
| 9
Apollo Senior Floating Rate Fund Inc.
Notes to Schedule of Investments (continued)
March 31, 2015 (unaudited)
The following table provides quantitative measures used to determine the fair values of the Level 3
investments as of March 31, 2015:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Apollo Senior Floating Rate Fund Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Assets |
|
|
|
Fair Value at
March 31,
2015 |
|
|
Valuation Technique(s) |
|
Unobservable Input(s) |
|
Range of
Unobservable
Input(s) Utilized |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Senior Loans |
|
|
|
$ |
74,101,464 |
|
|
Independent pricing service and/or broker quotes |
|
Vendor and/or
broker quotes |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,441,154 |
|
|
Market comparable approach(a) |
|
Total enterprise
value/EBITDA(a) |
|
6.8x |
|
|
|
|
|
|
|
|
|
|
|
|
| Common Stock |
|
|
|
|
1,255,250 |
|
|
Independent pricing service and/or broker quotes |
|
Vendor and/or
broker quotes |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
| Preferred Stock |
|
|
|
|
3,920,000 |
|
|
Discounted cash flow(b) |
|
Discount rate(b) |
|
8.67% |
|
|
|
|
|
|
|
|
|
|
|
|
| Warrants |
|
|
|
|
— |
|
|
Market comparable approach(a) |
|
Total enterprise
value/EBITDA(a) |
|
6.8x |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Fair Value |
|
|
|
$ |
82,717,868 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (a) |
The Fund utilized a market comparable approach to fair value a senior loan and associated common stock warrants. The significant unobservable inputs used in the valuation model were total enterprise value and earnings
before interest, taxes, depreciation and amortization (“EBITDA”) based on comparable multiples for a similar investment with similar risks. Significant increases or decreases in either of these inputs in isolation may result in a
significantly higher or lower fair value measurement. |
| (b) |
The Fund utilized a discounted cash flow model to fair value the preferred stock. The significant unobservable input used in the valuation model was the discount rate, which was determined based on the market rates an
investor would expect for a similar investment with similar risks. The discount rate was applied to present value the projected cash flows in the valuation model. Significant increases in the discount rate may significantly lower the fair value of
an investment; conversely, significant decreases in the discount rate may significantly increase the fair value of an investment. |
For
more information with regard to significant accounting policies, see the Fund’s most recent annual report filed with the Securities and Exchange Commission.
10 |
Item 2. Controls and Procedures.
| |
(a) |
The Fund’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the Fund’s
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective, as of a date within 90 days of the filing date of this report, based on their evaluation
of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended. |
| |
(b) |
There were no changes in the Fund’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred
during the Fund’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Fund’s internal control over financial reporting. |
Item 3. Exhibits.
| |
|
Certifications pursuant to Rule 30a-2(a) under the 1940 Act are attached hereto. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
|
|
|
|
| (Registrant) |
|
Apollo Senior Floating Rate Fund Inc. |
|
|
|
|
|
|
|
| By (Signature and Title) |
|
/s/ Joseph Moroney |
|
|
|
|
Joseph Moroney, President |
|
|
|
|
(principal executive officer) |
|
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940,
this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
|
|
|
|
| By (Signature and Title) |
|
/s/ Joseph Moroney |
|
|
|
|
Joseph Moroney, President |
|
|
|
|
(principal executive officer) |
|
|
|
|
|
|
|
| By (Signature and Title) |
|
/s/ Frank Marra |
|
|
|
|
Frank Marra, Treasurer and Chief Financial Officer |
|
|
|
|
(principal financial officer) |
|
|