AppLovin launches $300 million add-on term loan at 99.75 OID

By Sara Rosenberg

New York, Feb. 3 – AppLovin Corp. held a lender call at 1 p.m. ET on Wednesday to launch a fungible $300 million add-on term loan that is talked with an original issue discount of 99.75, according to a market source.

Pricing on the incremental term loan is Libor plus 400 basis points with a 0% Libor floor, in line with existing term loan pricing.

J.P. Morgan Securities LLC, BofA Securities Inc. and KKR Capital Markets are the lead arrangers on the deal.

Commitments are due at 5 p.m. ET on Monday, the source added.

Proceeds will be used for acquisition funding and general corporate purposes.

AppLovin is a Palo Alto, Calif.-based mobile monetization platform that enables performance-based user acquisition campaigns for mobile game and other app developers.

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