debt
confidence high
sentiment neutral
materiality 0.70
AppLovin issues $3.55B in senior notes and replaces secured term loans with unsecured revolver
AppLovin Corp
- Issued $1B 5.125% 2029 notes, $1B 5.375% 2031 notes, $1B 5.5% 2034 notes, $550M 5.95% 2054 notes.
- Net proceeds ~$3.519B used to repay in full senior secured term loan facilities due 2028 and 2030.
- Entered new $1B unsecured revolving credit facility maturing Dec 2029 with two one-year extensions.
- Terminated existing secured credit agreement from 2018 as amended.