Apollo Tactical Income Fund Inc. announced the closing of a credit facility. The Fund entered into a $138 million credit facility with JPMorgan Chase Bank, N.A. as lender and administrative agent. The Fund may borrow under the credit facility on a revolving basis until April 26, 2015.

Any loans outstanding under the credit facility must be repaid in full on April 26, 2015. The loans generally bear interest at a rate of the 3-month London Interbank Offered Rate plus an applicable margin rate initially set at 1.20%. The 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.