Apollo Senior Floating Rate Fund Inc. repaid in full its existing credit facility with JPMorgan Chase Bank, N.A. in the aggregate principal amount of $149,269,000. The same day, the Fund entered into a new credit facility with Sumitomo Mitsui Banking Corporation as lender with an aggregate amount of $150,000,000 available under the facility. Under the terms of the New Credit Facility, the Fund may borrow a single term loan not to exceed $112,500,000 and may borrow up to an additional $37,500,000 on a revolving basis. The Term Loan shall be a Eurodollar loan that bears interest at the London Interbank Offered Rate plus a compounding applicable margin of 1.05%. With respect to the Revolving Loans, the Fund may elect to apply LIBOR, an alternative base rate, a fixed rate, or a combination thereof. ABR and fixed rate loans will generally bear interest at the high of: the federal funds rate plus 1.00%; the LIBOR reference rate plus 1.00%; and SMBC's prime rate as announced by SMBC from time to time in New York City. The Fund may elect an interest period of one, two or three months with respect to both the Term Loan and the Revolving Loans, and six months with respect to the Revolving Loans. Any loans outstanding under the New Credit Facility must be repaid in full by May 11, 2019. The Fund will pay SMBC a quarterly commitment fee equal to 0.15% per annum on the average daily amount of available commitments. The New Credit Facility contains customary affirmative and negative covenants, including limitations on debt, liens and restricted payments, as well as certain portfolio limitations and customary prepayment provisions, including a requirement to prepay loans or take certain other actions if certain asset value tests are not met.