AppLovin Corporation Announces Proposed Public Offering of Senior Notes
AppLovin (NASDAQ: APP) has announced a proposed public offering of senior notes. The company plans to use the proceeds to fully repay its senior secured term loan facilities due 2028 and 2030, with any remaining funds allocated for general corporate purposes. The notes will be senior unsecured obligations without subsidiary guarantees. J.P. Morgan Securities, BofA Securities, and Morgan Stanley will serve as joint book-running managers. The offering is being made through an effective shelf registration on Form S-3 filed with the SEC.
AppLovin (NASDAQ: APP) ha annunciato un'offerta pubblica proposta di obbligazioni senior. L'azienda prevede di utilizzare i proventi per rimborsare completamente i suoi prestiti senior garantiti scadenti nel 2028 e 2030, con eventuali fondi rimanenti destinati a scopi aziendali generali. Le obbligazioni saranno obbligazioni senior non garantite senza garanzie da parte delle controllate. J.P. Morgan Securities, BofA Securities e Morgan Stanley agiranno come gestori congiunti della registrazione. L'offerta è effettuata attraverso un'efficace registrazione su formulario S-3 depositato presso la SEC.
AppLovin (NASDAQ: APP) ha anunciado una oferta pública propuesta de notas senior. La empresa planea utilizar los ingresos para reembolsar completamente sus préstamos garantizados senior que vencen en 2028 y 2030, destinando cualquier fondo remanente a propósitos corporativos generales. Las notas serán obligaciones senior no garantizadas sin garantías de subsidiarias. J.P. Morgan Securities, BofA Securities y Morgan Stanley actuarán como gerentes de libro conjunto. La oferta se realiza a través de un registro eficaz en el Formulario S-3 presentado ante la SEC.
AppLovin (NASDAQ: APP)은 선순위 채권에 대한 공모를 제안했습니다. 이 회사는 2028년 및 2030년 만기인 선 secured 대출 시설을 전액 상환하는 데 수익금을 사용할 계획이며, 남은 자금은 일반 기업 용도로 배정될 것입니다. 채권은 자회사의 보증 없이 선순위 무담보 의무가 됩니다. J.P. Morgan Securities, BofA Securities 및 Morgan Stanley가 공동 북러닝 관리자 역할을 합니다. 이 제안은 SEC에 제출된 S-3 양식을 통한 유효한 선등록을 통해 이루어집니다.
AppLovin (NASDAQ: APP) a annoncé une offre publique proposée de billets senior. L'entreprise prévoit d'utiliser les produits pour rembourser intégralement ses prêts à terme garantis senior arrivant à échéance en 2028 et 2030, tout fonds restant étant alloué à des fins générales d'entreprise. Les billets seront des obligations senior non garanties sans garanties de filiales. J.P. Morgan Securities, BofA Securities et Morgan Stanley agiront en tant que gestionnaires de livre associés. L'offre est effectuée par le biais d'un enregistrement de shelf efficace sur le formulaire S-3 déposé auprès de la SEC.
AppLovin (NASDAQ: APP) hat ein vorgeschlagenes öffentliches Angebot von vorrangigen Anleihen angekündigt. Das Unternehmen plant, die Erlöse zur vollständigen Rückzahlung seiner vorrangigen gesicherten Terminkredite, die 2028 und 2030 fällig sind, zu verwenden, wobei verbleibende Mittel für allgemeine Unternehmenszwecke vorgesehen sind. Die Anleihen werden vorrangige ungesicherte Verbindlichkeiten ohne Garantien von Tochtergesellschaften sein. J.P. Morgan Securities, BofA Securities und Morgan Stanley fungieren als gemeinsame Buchführer. Das Angebot erfolgt über eine wirksame Registernummer auf Formular S-3, die bei der SEC eingereicht wurde.
- Debt restructuring initiative to replace secured loans with unsecured notes
- Potential improvement in debt structure flexibility
- Taking on new debt obligations
- Potential increase in interest expenses depending on new notes' terms
Insights
This debt refinancing initiative marks a significant strategic move for AppLovin. The company is essentially restructuring its debt profile by replacing secured term loans with unsecured senior notes. This shift from secured to unsecured debt typically indicates strong financial positioning and could provide greater operational flexibility. The involvement of top-tier underwriters (J.P. Morgan, BofA Securities and Morgan Stanley) suggests favorable market reception potential.
The refinancing of the 2028 and 2030 term loan facilities could potentially optimize the company's debt structure and possibly secure better terms, though actual benefits will depend on the final pricing and terms. This move may impact the company's credit profile and debt service costs, which are important factors for a company with a
The Notes will be senior unsecured obligations of the Company and will not be guaranteed by any of its subsidiaries.
J.P. Morgan Securities LLC, BofA Securities, Inc. and Morgan Stanley & Co. LLC will act as joint book-running managers for the offering.
The offering of Notes is being made pursuant to an effective shelf registration on Form S-3 that has previously been filed with the SEC and became automatically effective on June 1, 2023. A preliminary prospectus supplement and accompanying base prospectus related to the offering has been or will be filed with the SEC and may be found on its website at www.sec.gov. Copies of the prospectus supplement and related prospectus for the offering may be obtained from any of the joint book-running managers at: J.P. Morgan Securities LLC, 383 Madison Avenue,
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities law of any such state or jurisdiction.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements in this release include, but are not limited to, whether or not the Company will consummate the offering of Notes and the anticipated use of proceeds of the offering of Notes. These forward-looking statements are subject to risks and uncertainties, including the risks described in the preliminary prospectus supplement, the accompanying bases prospectus, our Annual Report on Form 10-K for the fiscal year ending December 31, 2023, our Quarterly Reports on Form 10-Q for the periods ended March 31, 2024, June 30, 2024 and September 30, 2024. The forward-looking statements in this press release are based on information available to us as of the date hereof, and we disclaim any obligation to update any forward-looking statements, except as required by law.
About AppLovin
AppLovin makes technologies that help businesses of every size connect to their ideal customers. The company provides end-to-end software and AI solutions for businesses to reach, monetize and grow their global audiences.
Source: AppLovin Corp.
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Investors
David Hsiao
ir@applovin.com
Press
Kim Hughes
press@applovin.com
Source: AppLovin Corp.
FAQ
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