secwatch.observer — SEC 8-K summary
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Issuer:     Zeta Global Holdings Corp. (ZETA)
CIK:        0001851003
Form:       8-K
Filed at:   2024-09-03T23:59:59+00:00
Accession:  0000950170-24-102547
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 1.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Zeta closes $550M debt refinancing, repays $185M existing credit facility
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- New $550M facility includes $200M Term Loan A and $350M undrawn revolver; 5-year maturity.
- Proceeds used to repay $185M outstanding under prior credit agreement; leverage ratio <0.5x.
- Interest rate at SOFR + 1.875%-2.625% (or Base Rate + 0.875%-1.625%) based on leverage.
- Financial covenant requires Consolidated Net Leverage Ratio ≤ 3.25x (step-up to 3.75x post-acquisition of ≥$75M).
- Management says lower spreads improve free cash flow; facility supports tuck-in M&A criteria.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1851003/000095017024102547/0000950170-24-102547-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1851003/000095017024102547/zeta-20240830.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-102547

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