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Institutional Shareholder to launch $260 million facility on Tuesday
By Sara Rosenberg
New York, April 2 - Institutional Shareholder Services Inc. is scheduled to hold a bank meeting in New York on Tuesday to launch a $260 million credit facility, according to a market source.
GE Capital Markets and SunTrust Robinson Humphrey Inc. are the joint lead arrangers on the deal.
The facility consists of a $20 million revolver, a $167 million first-lien term loan B and a $73 million second-lien term loan, the source said.
Proceeds will be used to help fund the buyout of the company by Vestar Capital Partners from MSCI Inc. for $364 million.
Other funds for the transaction will come from equity.
Closing is expected in the second quarter, subject to customary conditions.
Institutional Shareholder Services is a provider of corporate governance services to the financial community.
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