AppLovin readies launch of $1.5 billion term loan for Thursday

By Sara Rosenberg

New York, Oct. 13 – AppLovin Corp. is scheduled to hold a lender call at 2 p.m. ET on Thursday to launch a $1.5 billion term loan, according to a market source.

JPMorgan Chase Bank and KKR Capital Markets are the joint lead arrangers and bookrunners on the deal.

Price talk on the term loan is Libor plus 300 basis points to 325 bps with a 0.5% Libor floor and an original issue discount of 99.5, the source said.

The term loan has 101 soft call protection for six months.

Commitments are due at noon ET on Oct. 21, the source added.

Proceeds will be used for general corporate purposes, including acquisitions.

AppLovin is a Palo Alto, Calif.-based provider of marketing software.

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