Zeta Announces Successful Completion of Debt Refinancing
2024年9月3日 - 7:30PM
ビジネスワイヤ(英語)
Zeta Global (NYSE: ZETA), the AI-Powered Marketing Cloud, today
announced that it has successfully closed a $550 million loan
facility to refinance its existing debt and lower its credit
spreads. This new debt is a combination of $200 million Term Loan A
and a $350 million Revolving Credit Facility, which remains undrawn
at the time of closing.
“We are pleased to announce this proactive refinancing
agreement, which reduces our cost of capital and strengthens our
liquidity,” said David A. Steinberg, Co-Founder, Chairman, and CEO
of Zeta. “Our model remains the same with our core value
proposition of data and AI driving strong organic growth. This
increased flexibility allows us to remain opportunistic for tuck-in
acquisitions that we expect to meet our criteria which
includes:
- Fully integrate into our platform in less than a year,
- Be accretive from day 1,
- Possess clear synergies across combined customer bases,
and
- Grow the acquired business at faster pace than our overall
organic growth rate.”
"This financing is a key step in strengthening Zeta's balance
sheet and ensuring that the company is well-positioned for future
growth,” said Chris Greiner, Zeta’s CFO. “By securing this capital
at favorable terms, we are enhancing our financial flexibility that
is aligned with our long-term vision. Additionally, the lower
credit spreads achieved through this deal will improve our free
cash flow, further supporting our go forward business strategy
while currently operating at a leverage ratio of less than
0.5x."
BofA Securities, Inc. served as Lead Arranger and Bookrunner.
MUFG, Key Bank, RBC, Truist, Citi, and Morgan Stanley are also
participants in the facility.
About Zeta
Zeta Global (NYSE: ZETA) is the AI-Powered Marketing Cloud that
leverages advanced artificial intelligence (AI) and trillions of
consumer signals to make it easier for marketers to acquire, grow,
and retain customers more efficiently. Through the Zeta Marketing
Platform (ZMP), our vision is to make sophisticated marketing
simple by unifying identity, intelligence, and omnichannel
activation into a single platform – powered by one of the
industry’s largest proprietary databases and AI. Our enterprise
customers across multiple verticals are empowered to personalize
experiences with consumers at an individual level across every
channel, delivering better results for marketing programs. Zeta was
founded in 2007 by David A. Steinberg and John Sculley and is
headquartered in New York City with offices around the world. To
learn more, go to www.zetaglobal.com.
Forward-Looking Statements
This press release, together with other statements and
information publicly disseminated by the Company, contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The Company intends
such forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995 and includes this
statement for purposes of complying with these safe harbor
provisions. Any statements made in this press release that are not
statements of historical fact are forward-looking statements and
should be evaluated as such. Forward-looking statements include
information concerning our anticipated future financial
performance, our market opportunities and our expectations
regarding our business plan and strategies. These statements often
include words such as “anticipate,” “expect,” “suggests,” “plan,”
“believe,” “intend,” “estimates,” “targets,” “projects,” “should,”
“could,” “would,” “may,” “will,” “forecast,” “outlook,” “guidance”
and other similar expressions. We base these forward-looking
statements on our current expectations, plans and assumptions that
we have made in light of our experience in the industry, as well as
our perceptions of historical trends, current conditions, expected
future developments and other factors we believe are appropriate
under the circumstances at such time. Although we believe that
these forward-looking statements are based on reasonable
assumptions at the time they are made, you should be aware that
many factors could affect our business, results of operations and
financial condition and could cause actual results to differ
materially from those expressed in the forward-looking statements.
These statements are not guarantees of future performance or
results. We undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable law.
If we update one or more forward-looking statements, no inference
should be drawn that we will make additional updates with respect
to those or other forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20240903122256/en/
Investor Relations Scott Schmitz ir@zetaglobal.com Press James
A. Pearson press@zetaglobal.com
Zeta Global (NYSE:ZETA)
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