Liftoff/Vungle to launch $1.4 billion credit facilities on Friday

By Sara Rosenberg

New York, Sept. 9 – Liftoff Mobile Inc./Vungle Inc. is set to hold a lender call at 11 a.m. ET on Friday to launch $1.4 billion of credit facilities, according to a market source.

Morgan Stanley Senior Funding Inc. is the lead bank on the deal.

The facilities consist of a $150 million revolver and a $1.25 billion senior secured term loan B, the source said.

Proceeds will be used to refinance the company’s existing capital structure and pay a one-time dividend distribution to shareholders.

Liftoff/Vungle is a Redwood City, Calif.-based platform that fuels the mobile app growth cycle.

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