MSCI gets $200 million senior unsecured revolver at Libor plus 175 bps

By Susanna Moon

Chicago, Nov. 21 – MSCI Inc. obtained a new $200 million senior unsecured revolving credit agreement, according to an 8-K filing with the Securities and Exchange Commission.

The company entered into the terms Thursday with J.P. Morgan Securities LLC as the lead arranger and bookrunner and JPMorgan Chase Bank, NA as administrative agent.

Interest on the revolver is initially Libor plus 175 basis points, with a spread of Libor plus 150 bps to 200 bps based on leverage. The fee will be 25 bps to 35 bps.

Proceeds from a new notes issue, along with cash on hand, were used to retire the company’s $794.8 million of outstanding debt under its senior secured term loan facility.

The Company may also seek to increase aggregate commitments under the New Revolving Credit Agreement in an additional amount of up to $200 million.

The covenants require a maximum consolidated leverage ratio of no more than 3.75 times and a minimum consolidated interest coverage ratio of at least 4 times.

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

© 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.