Zeta Global, the intelligent AI infrastructure company, closed a new $1 billion credit facility to refinance its existing $550 million credit facility and lower its credit spreads. This new debt is a combination of $250 million term loan A and a $750 million revolving credit facility, which remains undrawn at the time of closing.
“We are pleased to announce this proactive refinancing, which reduces our cost of capital and strengthens our liquidity,” David A. Steinberg, co-founder, chairman and CEO of Zeta, said. “As we continue building the future of enterprise intelligence, this increased flexibility provides incredible optionality to pursue accretive M&A, support general corporate purposes and execute opportunistically on share buybacks.”
Chris Greiner, chief financial officer of Zeta, added, “This financing is a key step in strengthening Zeta’s balance sheet and ensuring that the company is well-positioned. By securing this capital at favorable terms, we are enhancing our financial flexibility that is aligned with our long-term vision.”
BofA Securities served as lead arranger and bookrunner. Citi, JPMorgan, RBC Capital Markets and Truist Securities served as joint lead arrangers and joint bookrunners. Flagstar and Morgan Stanley served as co-documentation agents, and MUFG was a participant in the facility.
