Moody’s borrows $500 million under term loan facility for acquisition

By Tali Rackner

Minneapolis, Aug. 10 – Moody’s Corp. borrowed $500 million under its term loan facility maturing June 6, 2020, according to an 8-K filing with the Securities and Exchange Commission.

Proceeds from the Tuesday draw were used, together with other available funds, to pay the consideration owed in connection with its acquisition of Yellow Maple I BV, pay related fees and expenses and repay certain debt of the Target Cos.

Moody’s entered into the term loan facility with JPMorgan Chase Bank, NA as administrative agent on June 6.

Moody’s is a New York-based credit ratings and research agency.

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