AppLovin revises loan, hits secondary; Samsonite comes to market; Conservice on deck

By Sara Rosenberg

New York, April 29 – AppLovin Corp. increased the size of its incremental term loan and firmed the original issue discount at the tight end of guidance before freeing up for trading on Wednesday afternoon.

Specifically, AppLovin raised the non-fungible incremental term loan to $300 million from $250 million and set the original issue discount at 95, the tight end of the 94 to 95 talk, according to a market source.

As before, the term loan is priced at Libor plus 400 basis points with a 0% Libor floor and has 101 soft call protection for six months.

Recommitments were due at noon ET on Wednesday, and then the debt made its way into the secondary market with levels quoted at 95½ bid, 96½ offered, the source said.

KKR Capital Markets and BofA Securities, Inc. are leading the deal that will be used for general corporate purposes.

In more happenings, Samsonite released price talk on its incremental term loan B-2 with launch, and Conservice Midco LLC surfaced with new deal plans.

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