Apollo Builds In Safeguards for Its ADT Deal


Leon D. Black is giving new meaning to secured loans. Apollo Global, the private equity firm he helps run, has agreed to buy the home safety and fire protection company ADT for about $7 billion. It’s a buyout of alarming size given the fear coursing through credit markets, but the deal comes with plenty of safeguards.

Big leveraged deals have been hard to come by since the financial crisis. They have become even tougher in recent weeks as bond buyers run scared from the outlook on interest rates in the United States. Using a variety of creative maneuvers, Apollo may have cracked the code…

Apollo Builds In Safeguards for Its ADT Deal

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