Summary by Moomoo AI
AppLovin Corporation announced on November 20, 2024, that it has entered into an underwriting agreement to offer $3.55 billion in senior notes. The offering consists of $1B each in 5.125% notes due 2029, 5.375% notes due 2031, and 5.500% notes due 2034, plus $550M in 5.950% notes due 2054.The company plans to use the net proceeds to fully repay its senior secured term loan facilities due 2028 and 2030, with any remaining funds allocated for general corporate purposes. The offering is expected to close on December 5, 2024, subject to customary closing conditions.The underwriting agreement includes standard representations, warranties, and indemnification provisions. AppLovin notes that this announcement does not constitute an offer to sell securities or a notice of debt repayment, and any offers will be made only through a prospectus supplement and accompanying base prospectus.
