CHICAGO, Feb. 8, 2018 /PRNewswire/ -- Cision Ltd.
("Cision" or the "Company") (NYSE: CISN), a leading global provider
of software and services to public relations and marketing
communications professionals, today reported that it completed its
previously announced repricing of the Company's $1,417 million First Lien Senior Secured Term
Loan. The first lien credit agreement consists of a $75
million revolving loan facility and a $1,342
million term loan facility. The term loan facility consists
of $1,032 million of US Dollar borrowings and €249
million of Euro borrowings. The term loans and revolving borrowings
are priced at an interest rate of LIBOR + 325 for USD borrowings
and EURIBOR + 350 for Euro borrowings. The Company estimates that
the 100 basis point reduction on USD borrowings and the 75 basis
point reduction on Euro borrowings will reduce its annual cash
interest costs by approximately $12 million.
![Cision logo. Cision logo.](https://mma.prnewswire.com/media/467136/cision_logo.jpg)
Jack Pearlstein, Cision's Chief
Financial Officer commented: "We are pleased to have concluded this
repricing transaction on such beneficial terms. The repricing
will provide us with significant annual cash interest savings and
represents another step in our ongoing effort to reduce interest
expense, drive increased cash flow and, by extension, drive
incremental value for our shareholders."
Forward-Looking Statements
This communication contains "forward-looking statements" within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. In this context,
forward-looking statements often address expected future business
and financial performance and financial condition, and often
contain words such as "anticipate," "intend," "plan," "goal,"
"seek," "aim," "strive," "believe," "see," "project," "predict,"
"estimate," "expect," "continue," "strategy," "future," "likely,"
"may," "might," "should," "will," "would," "target," similar
expressions, and variations or negatives of these words.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations, and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy, and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks, and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Accordingly, you should not place
undue reliance on these statements, as actual results may vary
materially. A detailed discussion of some of the risks and
uncertainties that could cause our actual results and financial
condition to differ materially from the forward-looking statements
is described under the caption "Risk Factors" in our most recent
quarterly report on Form 10-Q filed on November 9, 2017, along
with our other filings with the U.S. Securities and Exchange
Commission. Any forward-looking statement made by us in this
communication is based only on information currently available to
us and speaks only as of the date of this report. We do not assume
any obligation to publicly provide revisions or updates to any
forward-looking statements, whether as a result of new information,
future developments or otherwise, should circumstances change,
except as otherwise required by securities and other applicable
laws. Please consult our public filings
at www.sec.gov or www.Cision.com.
About Cision
Cision Ltd. (NYSE: CISN) is a leading global provider of earned
media software and services to public relations and marketing
communications professionals. Cision's software allows users to
identify key influencers, craft and distribute strategic content,
and measure meaningful impact. Cision has over 3,000 employees with
offices in 15 countries throughout the Americas, EMEA, and APAC.
For more information about its award-winning products and services,
including the Cision Communications Cloud®,
visit www.cision.com and follow Cision on Twitter
@Cision.
Investor Contact:
Jack Pearlstein
Chief Financial Officer
Jack.Pearlstein@Cision.com
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