Apollo is repackaging about $9 billion of its Oneok stake into a debt-related structure, according to reporting cited by multiple outlets. The move is intended to raise liquidity for a planned acquisition and to support repayment of existing debt.
The outlets describe the transaction as a repackaging rather than a straightforward sale, suggesting Apollo seeks financing or capital structure flexibility using the value of its Oneok holdings. Bloomberg is cited for the details of the $9 billion figure and the stated purposes—funding an acquisition and debt repayment—while Yahoo News frames the same core transaction as Apollo converting the stake into a debt deal.
While both accounts agree on the size of the Oneok stake and the broad objectives, they provide limited additional specifics in the shared excerpts, including the exact terms of the debt arrangement, the timing, and any regulatory or lender-related conditions.
