Nielsen begins $1bn refinancing

The proposals will see the company issue $500 million aggregate principal amount of senior notes due in 2029 and $500 million aggregate principal amount of senior notes due in 2031 in a private offering.

The money will be used to pay back loans and to increase the amount of cash on hand available to the company.

Citibank has been appointed as administrative agent for the refinancing.

The refinancing comes following a year in which Nielsen has confirmed the sale of NielsenIQ to affiliates of Advent International in partnership with James Peck, former chief executive of TransUnion.

Nielsen reported revenue of $863m in the first quarter of 2021, which was a 2.5% year-on-year increase on a reported basis, 1.3% on a constant currency basis and 2.3% on an organic basis.