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Neptune Retail Solutions premarkets private-to-public loan refi

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News and Analysis

Neptune Retail Solutions premarkets private-to-public loan refi

Dan Mika's avatar
Will Caiger-Smith's avatar
  1. Dan Mika
  2. +Will Caiger-Smith
•1 min read

Marketing company Neptune Retail Solutions is offering early looks at a proposed $675m term loan package that would refinance existing private credit debt in the broadly syndicated market, according to 9fin sources.

With the help of bankers at Jefferies, the company is pitching the new loan at pricing of around SOFR+525bps. Proceeds would go toward replacing a $450m term loan and $50m revolver provided by Cerberus to fund Neptune’s $430m acquisition of Quotient Technology in 2023.

Neptune used to be a division of the Murdoch family’s News Corp. Then known as News America Marketing, it was bought by Charlesbank Capital Partners in 2020 before being rebranded.

Financing for that buyout included seller notes that are also set to be refinanced as part of this new loan deal, said one of the sources.

This refinancing effort follows a similar deal for Neptune’s peer Inmar, which was also led by Jefferies and priced just last week.

Neptune and Jefferies did not respond to requests for comment. Charlesbank declined to comment.

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