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Nielsen purchaser enters $10.61 billion, €510 million at closing
By Wendy Van Sickle
Columbus, Ohio, Oct. 11 – Neptune BidCo US Inc. as purchaser of Nielsen Holdings plc entered into three credit agreements on Oct. 11 to provide for $10.61 billion and €510 million of credit facilities, according to an 8-K filing with the Securities and Exchange Commission.
The $6.5 billion and €510 million of credit facilities provided for under a credit agreement with Bank of America, NA as administrative agent include a $2.5 billion senior secured term A loan facility; a $3.35 billion senior secured term B loan facility; a €510 million senior secured euro term B loan facility; and a $650 million senior secured revolver.
The second-lien credit agreement with Ares Capital Corp. as administrative agent and collateral agent provides for a secured second-lien term facility of $2.15 billion.
A bridge credit agreement with Bank of America as administrative agent provides for a secured bridge term facility of $1,956,000,000.
The credit agreements were entered in connection of closing of the acquisition of Nielsen by a private equity consortium led by Evergreen Coast Capital Corp. and Brookfield Business Partners LP. Also at closing, Nielsen repaid all loans and terminated all credit commitments outstanding under its credit agreement dated July 21, 2020 with Citibank, NA as administrative agent.
Nielsen and some of its subsidiaries are guarantors under the credit agreement.
Nielsen was bought for $28 per share in an all-cash transaction valued at about $16 billion, including the assumption of debt.
Other funds for the transaction were expected to come from about $5.19 billion of equity and a rollover of 16.6 million Nielsen ordinary shares.
Nielsen is a New York-based provider of audience measurement, data and analytics.
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