MSCI increases term loan A size to $880 million on strong demand

By Sara Rosenberg

New York, May 2 - MSCI Inc. upsized its term loan A to $880 million from $600 million due to good investor interest, according to a market source.

Pricing on the term loan A, as well as on $100 million revolver, remained at Libor plus 225 basis points with step-downs based on a leverage grid, the source said.

Morgan Stanley MUFG Loan Partners LLC, acting through Morgan Stanley Senior Funding Inc. and the Bank of Tokyo Mitsubishi UFJ Ltd., and J.P. Morgan Securities LLC are the joint lead arrangers and bookrunners on the now $980 million, up from $700 million, five-year credit facility (Ba1/BBB).

Proceeds, along with cash on hand, will be used to replace an existing revolver and repay all of the $1.079 billion senior secured term loan B.

Initially, the term loan B paydown was expected at up to $800 million, but it was increased due to the term loan A upsizing.

Closing on the transaction is expected in the next several days.

MSCI is a New York-based provider of investment decision support tools, including indexes, portfolio risk and performance analytics and corporate governance services.

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