Nielsen has announced a $1.25 billion debt refinancing initiative, and says it is allocating funds to drive its new TV ratings platform Nielsen One.
The refinancing initiative, conducted through subsidiaries Nielsen Finance LLC and Nielsen Finance Co., includes issuing $625m in an aggregate principal amount of senior notes due in 2029, and $625m due in 2031. Resulting funds will be used to pay down existing loans and to have more cash on hand. The notes, which will be issued on or around 28th May, will only be offered to people believed to be qualified institutional buyers.
In addition, Nielsen Holdings PLC's CFO Linda Zukauckas (pictured) confirmed to the Wall Street Journal (WSJ) that the company is allocating funds to drive Nielsen One, which will combine ratings from streaming and live TV when it launches next year. Funds from the recent $2.4 billion sale of retail measurement division Global Connect to Advent International will be allocated towards Nielsen One, and Nielsen hopes the platform will become the US standard for ratings by 2024.
Zukauckas told the WSJ that she is curtailing investments in products with less potential for revenue growth and redirecting some of that cash toward Nielsen One.
Web site: www.nielsen.com .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.