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MSCI lifts revolver to $400 million, trims pricing, extends to 2024
By Sarah Lizee
Olympia, Wash., Nov. 19 – MSCI Inc. amended its revolving credit facility on Nov. 15 with JPMorgan Chase Bank, NA as administrative agent, permitting the company to increase commitments available to be borrowed by $150 million to $400 million, according to an 8-K filing with the Securities and Exchange Commission.
The amendment also extends the term to November 2024 and decreases the applicable rate and applicable fee rate for loans and commitments.
Specifically, borrowings will now bear interest at Libor plus 125 basis points to 175 bps, and the commitment fee will range from 20 bps to 30 bps, in each case based on leverage.
Some restrictive covenants that limit, among other things, the company’s financial flexibility, were also amended.
MSCI is a New York-based financial services company.
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