AppLovin, a marketing software company, closed a seven-year, $1.5 billion term loan. The term loan was issued at 99.75% of the aggregate principal amount and will bear interest at a rate of LIBOR plus 3% with a 0.5% LIBOR floor. The company intends to use the net proceeds for general corporate purposes, including acquisitions.

JPMorgan Chase Bank, BofA Securities, KKR Capital Markets, Citigroup, Credit Suisse Loan Funding, Goldman Sachs Bank, Morgan Stanley Senior Funding and UBS Securities acted as joint lead arrangers for the facility. In addition, JPMorgan Chase Bank, BofA Securities, KKR Capital Markets, Citigroup, Goldman Sachs Bank and Morgan Stanley Senior Funding acted as joint bookrunners collectively.