Apollo Commercial Real Estate Finance Inc. has refinanced with Wells Fargo all of the debt outstanding under the Term Asset-Backed Securities Loan Facility (TALF) program administered by the Federal Reserve Bank of New York.

Prior to the refinancing, Apollo had TALF borrowings totaling $250.3 million with a weighted average cost of funds of 2.8%. Those borrowings were secured by triple-A rated commercial mortgage-backed securities with a face amount of $298.6 million.

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