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Market Chatter: Apollo-Backed Shutterfly Offers $1.9 Billion in Loans, Bonds

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Apollo Global Management-backed (APO) Shutterfly is marketing about $1.9 billion in loans and bonds, including $1.15 billion in junk notes, to refinance upcoming maturities, Bloomberg reported Friday, citing people with knowledge of the matter.

The package includes a $500 million term loan and a $225 million second-lien loan, with Barclays (BCS) handling the full offering, the report said.

A call with investors is set for Monday, and the transactions are expected to close on June 10, the report said.

Shutterfly, Apollo and Barclays did not immediately respond to requests for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $129.03, Change: $+1.52, Percent Change: +1.19%

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