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.