Cision to get new debt financing for PR Newswire acquisition

By Sara Rosenberg

New York, Dec. 15 – Cision plans to get new debt financing to help fund its purchase of PR Newswire from UBM plc, according to a news release.

Deutsche Bank Securities Inc., Barclays and RBC Capital Markets are the leads on the debt.

Under the agreement, PR Newswire is being bought for $841 million, comprised of $810 million in cash and $31 million in preferred equity.

Closing is expected late in the first quarter of 2016, subject to approval by UBM shareholders and regulatory approvals.

Cision, a GTCR portfolio company, is a Chicago-based media intelligence company. PR Newswire is a New York-based PR and investor relations communications company.

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