United States firm management company Franchise Group, Inc. is making plans to borrow more than $2 million from Apollo Global Management, Inc. for its acquisition of the American retail store giant Kohl's, the New York Post reported on Thursday.
Commenting on the risky, non-traditional character of Apollo's loan due to the escalating inflation in the US, a lender familiar with the matter said: "A bank when this auction started (in January) would have lent money in the three times area. But now the best would be 1.5 times to two times."
On April 18, The Wall Street Journal reported that Apollo was looking at taking part in a bid for Twitter, as it had been in talks to back a possible deal for the social network company and could have provided Elon Musk or Thoma Bravo LP equity or debt to back a bid.
