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Zeta Global Announces Successful Completion of Debt RefinancingNEW YORK, March 1, 2021 /PRNewswire/ -- Zeta Global, a marketing technology company that leverages unique data and predictive AI to help brands acquire, grow and retain customers, today announced that it has successfully closed a $222.5 million loan facility to provide additional capital to pursue new initiatives. This new debt is a combination of Term Loan A and Revolving Credit Facility, which gives the company increased flexibility. Zeta Global successfully closed a $222.5 million loan facility "We are pleased to announce this refinancing, in conjunction with our banking partners, which serve a number of long-term advantages for Zeta's business," said David A. Steinberg, Zeta Global Co-Founder, Chairman, and CEO. "This will generate significant savings by reducing our interest by less than half the cost of previous loans and provide us with additional capital, which will serve to further expand Zeta's cutting-edge capabilities. As we continue to improve the Company's capital structure, we are working hard on new initiatives and are excited about the next chapter of Zeta."/p>
Chris Greiner, Chief Financial Officer states, "The strategic refinancing is a proactive step that meaningfully improves Zeta's overall capital structure and strengthens our liquidity, reduces our borrowing costs and provides us with additional financial flexibility. We appreciate the continued support from our banking partners who see an abundance of opportunity in the future of our business." BofA Securities, Inc. served as Lead Arranger and Bookrunner. Barclays, Credit Suisse, and Morgan Stanley Senior Funding, Inc. are also participants in the facility. Matthews South served as the financial advisor to Zeta. ABOUT ZETA GLOBAL View original content:http://www.prnewswire.com/news-releases/zeta-global-announces-successful-completion-of-debt-refinancing-301237623.html SOURCE Zeta Global |