MSCI to price $800 million 10.75-year notes in Monday drive-by; initial talk 4% area

By Paul A. Harris

Portland, Ore., May 18 – MSCI Inc. plans to drive by with an $800 million offering of senior notes due Feb. 15, 2031 (existing ratings Ba2/BB+) on Monday trailing a mid-morning conference call with investors, according to market sources.

Initial talk has the notes coming to yield in the 4% area, a trader said.

Left lead bookrunner Morgan Stanley & Co. LLC will bill and deliver. BofA Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the joint bookrunners.

Citizens Capital Markets Inc., Credit Suisse Securities (USA) LLC, Fifth Third Securities Inc., TD Securities (USA) LLC and Wells Fargo Securities LLC are the co-managers.

The Rule 144A and Regulation S for life notes become callable after five years at par plus 50% of the coupon.

The New York-based finance company plans to use the proceeds, together with cash on hand, to redeem all $800 million of its 2025 senior notes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.