MSCI to launch $450 million credit facility on Tuesday

By Sara Rosenberg

New York, Oct. 1 - MSCI Inc. is scheduled to hold a bank meeting on Tuesday to launch its proposed $450 million senior secured credit facility (Ba2/BB+), according to a market source.

Morgan Stanley and Bank of America are the lead banks on the deal.

The facility consists of a $50 million revolver and $400 million in term loan debt, the source said.

The term loan debt will be a mix of term loan A and term loan B, but the exact split is still to be determined, the source added.

The facility is being done in connection with an initial public offering of common stock.

Proceeds will be used to repay intercompany debt owed to Morgan Stanley.

MSCI is a New York-based provider of investment decision support tools to investment institutions.

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