Apollo Global Management LLC is meeting with some of the bond market’s biggest investors to smooth over strained relationships amid accusations it has shortchanged creditors of some of its biggest corporate buyouts, Bloomberg News reported on Friday. The private-equity firm co-founded by Leon Black will travel to the offices of money managers who buy high-yield debt, seeking to persuade them that the bonds and loans issued by its companies are worthwhile investments, said the people, who asked not to be named because the meetings are private. Apollo is one of the biggest issuers in debt markets through the companies it owns and regularly talks with buyers. Criticism of its treatment of creditors has increased since the financial crisis after some of its buyouts soured. A group of bondholders in a bankrupt unit of Caesars Entertainment Corp., the casino operator Apollo and TPG Capital took private for $30.7 billion in 2008, has claimed in lawsuits that the business was stripped of billions of dollars in assets before the chapter 11 filing in January.
