Zeta Global closes $1B credit facility to refinance debt

Zeta Global (NYSE: ZETA) has closed a new $1 billion credit facility, replacing its existing $550 million credit facility at lower credit spreads, according to a company statement.

The new facility consists of a $250 million Term Loan A and a $750 million revolving credit facility. The revolving portion remained undrawn at closing. The company said the refinancing is intended to support mergers and acquisitions, share repurchases, and general corporate purposes.

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 participated in the facility.

David A. Steinberg, co-founder, chairman, and CEO, said the refinancing "reduces our cost of capital and strengthens our liquidity" and provides "optionality to pursue accretive M&A, support general corporate purposes, and execute opportunistically on share buybacks."

CFO Chris Greiner said the financing "is a key step in strengthening Zeta's balance sheet" and that securing capital "at favorable terms" enhances financial flexibility.

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