NIQ Improves Financial Position Post-IPO

Consumer intelligence giant NIQ has used proceeds from its recent IPO to refinance its Dollar and Euro Term Loan facilities, and reprice its revolving credit facility. This reduces its interest payments by nearly $100m per year, gives it added financial stability and has bumped up its credit ratings accordingly.

The Chicago, IL-based company was previously the Buy division of Nielsen and subsequently known as Nielsen Global Connect, was acquired in 2021 by investor Advent International for $2.7bn, and recently combined with GfK. It reported around $4.0bn in revenue for the year ending 31st March '25. The recent IPO was scheduled to bring in more than $1bn, most of which was earmarked for the easing of its $4.3bn debt burden.

The transaction repriced and extended the firm's loan of $2,264m, extending maturity by around 2.5 years from March 2028 to October 2030 - among other benefits; repriced and extended a loan of EUR 1,135m via a paydown from IPO proceeds and a similar extension of maturity; repriced the $750m in revolving credit; and paid down the full amount of a Canadian Term Loan Facility totalling $CAD 123m.

CFO Mike Burwell (pictured) states: 'Through our IPO and successful refinancing, we have reduced interest expense by nearly $100 million per year. We also have built-in interest spread step-downs in our Credit Agreement that could deliver another roughly $10 million of annual interest savings as our net leverage ratio decreases. Our continued improvement in credit profile is acknowledged by the rating agencies with Moody's and Fitch providing us with a one notch upgrade to B1 and BB-, respectively, and S&P revising our outlook to positive from stable.'

The firm is online at www.niq.com .