Cision Secures $250M Financing, Debt Refinancing and Extension
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Cision Secures $250 Million in Funding, Extends Debt Maturity
Table of Contents
- Cision Secures $250 Million in Funding, Extends Debt Maturity
- Cision Secures $250 Million in Funding: Your Top Questions Answered
- What Happened? Cision Secured $250 million in Additional Funding.
- Why is this funding Significant?
- What are the Key Benefits of the Financing for Cision?
- What are the Details of the Financing Transactions?
- Where Did the Money Come From? Who are the investors?
- When will the Debts Mature?
- How Will Cision Use the $250 Million in Funding?
- What is the Strategic Importance of this Funding for Cision?
- What Does This Funding Mean for Cision’s Future?
- Who Were the Advisors in This Deal?
- what are the details of the Private Exchange Offer and When is the Deadline?
- Where Can I Find More Information?
- About Cision
CHICAGO, April 14, 2025 – Cision Ltd., a global provider of earned media software and services for public relations and marketing communications professionals, announced today it has obtained $250 million in new funding. The financing package,secured with the support of existing lenders and bondholders,is designed to provide the company with increased financial flexibility.
According to a commitment declaration, Cision and commitment parties, who hold over 90% of the company’s outstanding debt, have agreed to certain financing transactions. These transactions are expected to provide several key benefits to Cision, including:
- Approximately $250 million in additional liquidity.
- Reduction of the outstanding principal amount of certain credit facilities.
- extension of debt maturity dates.
Executive Perspective
“These transactions reaffirm the support from the top-tier institutions within our investor base,” said Guy Abraham, Managing Director of Cision. “We have not only secured additional liquidity but also extended our debt maturities to 2030 and beyond, positioning us to execute our long-term growth strategy.”
Details of the Financing Transactions
The commitment declaration outlines several key transactions and related measures, including:
- New Loans: The combination of new funds and the exchange of existing debt will create a primarily secured first-out loan of approximately $250 million, plus new funds. Additionally, a primarily secured, first-lien-second-out loan will be issued in an amount sufficient to purchase loans under the existing loan agreement at a price agreed upon by the company and its lenders.
- Private Bond exchange: An exchange of existing bonds for new, subordinated 10.00% priority secured bonds due in 2031. These new bonds will be issued under a new contract.
- Amendments to Existing Agreements: Consent to amend the existing loan contract dated Jan. 31, 2020, and the existing debt bond agreement dated feb. 5, 2020. These amendments will eliminate restrictive clauses and facilitate the transactions.
- Revolving Credit Conversion: The existing revolving lenders will convert a primarily secured first-lien-out-and-credit facility with an overall allowance of approximately $137 million.
The first-out loans and the revolving first-out loan will mature on April 29, 2030.The second-out loans will mature on May 31, 2030, and the third-out debt bonds will mature on June 30, 2031.These debts are guaranteed and secured by a first-priority lien on substantially all of the company’s assets.
Use of Proceeds
Cision intends to use the proceeds from these transactions to:
- Fully repay all outstanding obligations under the bridging loan agreement dated Jan. 30,2025.
- Settle all outstanding obligations and liabilities under certain corporate loan agreements.
- Facilitate the purchase of temporary loans.
- Pay accrued and unpaid interest on existing bonds submitted as part of the private exchange.
- Finance transaction fees and for general corporate purposes.
Strategic Importance
“Cision is a leading provider of strategic communication solutions, shaping the future of brands and companies in a proactive and real-time manner,” said Abraham. “These transactions provide us with the necessary liquidity to continue supporting our over 75,000 partners, including 84% of Fortune 500 companies, ensuring their stories are understood and amplified.”
Advisors
Houlihan Lokey served as financial advisor and Milbank LLP as legal advisor to Cision. Evercore acted as financial advisor and Gibson, Dunn & Crutcher LLP as legal advisor to the commitment parties.
Private Exchange Offer details
Cision anticipates issuing the third-out debt bonds on April 22, 2025, to debt owners committed to the private bond exchange. Other bondholders have until May 12, 2025, to participate in the exchange under the same conditions. Bondholders seeking further information should contact Cision.
- Early Participation: Bondholders connecting with Cision by April 17, 2025, may be entitled to receive third-out bonds on the initial issuance date.
- Additional Issuance: Bondholders connecting after april 17, 2025, but by april 29, 2025, may receive third-out bonds on May 2, 2025.
- Late Participation: Bondholders connecting after April 29, 2025, may receive third-out debt bonds at a later date, but these bonds may not be fungible with those issued earlier.
The commitment parties,holding approximately 95% of the existing bonds,have agreed to exchange their holdings.Cision cautions that the private exchange may negatively impact the liquidity and market price of existing bonds not tendered and accepted.
Existing bonds not exchanged will remain subject to the terms of the existing bond indenture, as amended. These amendments will remove restrictions, potentially enabling Cision and its subsidiaries to take actions previously prohibited, which could increase credit risks and negatively affect the market price and volatility of the existing bonds.
The third-out debt bonds have not been registered under the Securities Act of 1933 and may not be offered or sold absent registration or an applicable exemption.
This declaration is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. Bondholders are encouraged to consult with their own legal, financial, and tax advisors.
About Cision
Cision is a global provider of earned media solutions, empowering public relations, marketing, and social media professionals to succeed in today’s data-driven world. Cision’s services include tools such as CisionOne,
Cision Secures $250 Million in Funding: Your Top Questions Answered
Cision, a leading provider of earned media software and services, recently announced it has secured $250 million in new funding. This is significant news for the company,its investors,and the public relations and marketing communications industry. Let’s break down the details and answer the key questions you might have.
What Happened? Cision Secured $250 million in Additional Funding.
On April 14, 2025, Cision announced it obtained $250 million in new funding. This financing package, supported by existing lenders and bondholders, aims to provide Cision with greater financial adaptability. This means Cision is getting a cash boost to propel its business forward.
Why is this funding Significant?
This funding is crucial for Cision for several reasons:
- Increased Liquidity: Approximately $250 million in additional cash provides a safety net and the ability to invest in growth initiatives.
- Debt Reduction: The financing includes steps to reduce a portion of existing debt.
- Extended Debt Maturity: This is a key benefit, as it pushes back the deadlines for debt repayment, giving Cision more breathing room and strategic flexibility.
What are the Key Benefits of the Financing for Cision?
The financing transactions provide several key benefits to Cision, including:
- Financial Flexibility: Allows Cision to pursue strategic initiatives.
- Long-Term Growth: Positioning Cision to execute its long-term growth strategy.
- Support from Investors Reaffirms confidence from top-tier investors
What are the Details of the Financing Transactions?
The financing involves several key transactions:
- New Loans: A combination of new funds and the exchange of existing debt will create a $250 million secured loan, plus additional funds.
- Private Bond Exchange: Existing bonds are being exchanged for new, subordinated 10.00% priority secured bonds due in 2031.
- amendments to Existing Agreements: Changes to existing loan agreements to facilitate the transactions.
- Revolving Credit conversion: Existing revolving lenders will convert a credit facility.
Where Did the Money Come From? Who are the investors?
The funding was secured with the support of existing lenders and bondholders, with over 90% of the company’s outstanding debt participating. Key commitment parties involved in this financing.The specific names of the lenders and bondholders aren’t fully present in the original article, but the announcement emphasizes the support from Cision’s existing investor base and financial institutions.
When will the Debts Mature?
The frist-out loans and the revolving first-out loan will mature on April 29, 2030. The second-out loans will mature on May 31, 2030, and the third-out debt bonds will mature on june 30, 2031.
How Will Cision Use the $250 Million in Funding?
Cision’s stated intent for using the proceeds includes:
- Repaying Debt: Fully repaying obligations under a bridging loan.
- Settling corporate Obligations: Addressing liabilities under certain corporate loan agreements.
- Loan Purchase: Facilitating the purchase of temporary loans.
- Interest Payments: Paying accrued and unpaid interest on existing bonds submitted for the private exchange.
- General Corporate Purposes: Covering transaction fees and other general operating expenses.
What is the Strategic Importance of this Funding for Cision?
“These transactions provide us with the necesary liquidity to continue supporting our over 75,000 partners, including 84% of Fortune 500 companies, ensuring their stories are understood and amplified,”
What Does This Funding Mean for Cision’s Future?
The additional funding and extended debt maturity signal a positive outlook for Cision. With increased financial flexibility, Cision can pursue its long-term growth strategy, invest in product growth, and potentially expand its market share in the earned media space. The transactions indicate confidence from existing investors in Cision’s business model and future prospects.
Will this affect Cision Stock?
This news could impact the market’s perception of the company. While the provided data doesn’t directly give stock movements the extended debt maturity and new round of funding is positive signal from lenders. Investors and the market will closely watch Cision’s performance in the coming quarters.
Who Were the Advisors in This Deal?
The advisors involved in this financial transaction were:
- Financial Advisor to Cision: Houlihan Lokey
- Legal Advisor to Cision: Milbank LLP
- Financial Advisor to the Commitment Parties: Evercore
- Legal Advisor to the Commitment Parties: Gibson,Dunn & Crutcher LLP
what are the details of the Private Exchange Offer and When is the Deadline?
Cision is offering a private exchange to existing bondholders. here are the key dates:
- Initial Issuance: Bondholders connecting with Cision by April 17, 2025, may be entitled to receive third-out bonds on the initial issuance date.
- Secondary Issuance: Bondholders connecting after April 17, 2025, but by April 29, 2025, may receive third-out bonds on May 2, 2025.
- Late Participation: Bondholders connecting after April 29, 2025, may receive third-out debt bonds at a later date, but these bonds may not be fungible with those issued earlier.
Where Can I Find More Information?
Contact Cision for more information.
About Cision
Cision is a global provider of earned media solutions for public relations, marketing, and social media professionals. Their tools help analyze audience engagement and track media mentions. cision’s