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Liftoff Mobile to launch $350 million credit facilities on Thursday
By Sara Rosenberg
New York, Feb. 3 – Liftoff Mobile Inc. is scheduled to hold a lender call at 10 a.m. ET on Thursday to launch $350 million of senior secured credit facilities, according to a market source.
Morgan Stanley Senior Funding Inc. is the left lead arranger on the deal.
The facilities consist of a $50 million revolver and a $300 million first-lien term loan B, the source said.
Proceeds will be used to finance the majority investment in Liftoff by Blackstone and pay fees and expenses related to the transaction.
Closing is subject to customary conditions.
Liftoff is a Redwood City, Calif.-based performance-based mobile app marketing optimization platform.
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