Apollo Global Capital Inks Convertible Loan Agreement
The board of directors of Apollo Global Capital Inc. (PSE: APL) has authorized the company to enter into a convertible loan agreement with Joanna B. Co in the amount of PhP50 million, which shall bear interest at the rate of 5% per annum.
The loan shall mature on the 24th month from the date of the agreement, February 20, 2019).
Under the terms of the agreement, Co has the right to convert the loan to equity of the company at par value thereof, at any time until and including the 10th business day before maturity date.
