Davis Polk advised the administrative agent and joint lead arrangers in connection with the repricing of the $1.342 billion term loan facility and the $75 million revolving loan facility for Cision Ltd. The repricing accomplished a 100 basis point reduction in the applicable margin on the U.S. dollar-denominated term loans and a 75 basis point reduction in the applicable margin on the Euro-denominated term loans and on the U.S. dollar revolving credit facility.
Cision is a global provider of software and services to public relations and marketing communications professionals with headquarters in Chicago. Cision has over 100,000 customers in 170 countries worldwide and also includes PR Newswire, the Gorkana Group, PRWeb, Help a Reporter Out (HARO) and iContact brands.
The Davis Polk financing team included partners Kenneth J. Steinberg and Nick Benham and associates Patrick Ryan and Li Lin. Members of the Davis Polk team are based in the New York and London offices.