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Apollo Commercial Real Estate Finance offering common shares

Apollo Commercial Real Estate Finance Inc. has commenced a public offering of 12 million common shares.

The company expects to grant the underwriters a 30-day option to purchase up to 1.8 million additional common shares.

The company may use all or a portion of the net proceeds to acquire or originate target assets, which include commercial first mortgage loans, subordinate financings, commercial mortgage-backed securities and other commercial real estate-related debt investments. It may also use the proceeds for working capital and other general corporate purposes, including the repayment of borrowings outstanding under certain repurchase agreements.

Citigroup, J.P. Morgan, Bank of America Merrill Lynch and Morgan Stanley are the joint book-running managers for the offering.