MSCI Inc. Announces Completion of Repricing of Senior Secured Term Loan
15 Março 2011 - 9:30AM
Business Wire
MSCI Inc. (NYSE: MSCI), a leading provider of investment
decision support tools worldwide, including indices, portfolio risk
and performance analytics and corporate governance services,
announced today the completion of its previously announced
repricing of its outstanding senior secured term loan. The
repricing was effected through an amendment to MSCI’s credit
agreement, which provided for the incurrence of a new senior
secured loan in an aggregate principal amount of $1.125 billion.
The proceeds of the new term loan, together with $88 million of
cash on hand, were used to repay the existing $1.213 billion term
loan facility in full.
The amendment decreased the interest rate applicable to the term
loans from LIBOR plus 3.25% (with a leverage-based stepdown) to
LIBOR plus 2.75% (with a leverage-based stepdown) as well as the
LIBOR floor from 1.50% to 1.00%.
MSCI also amended certain other covenants in its senior secured
loan facility.
Morgan Stanley Senior Funding, Inc. was the Sole Lead Arranger
and Joint Bookrunner on the repricing, along with BofA Merrill
Lynch (Joint Bookrunner) and UBS Securities LLC (Co-Manager).
About MSCI
MSCI Inc. is a leading provider of investment decision support
tools to investors globally, including asset managers, banks, hedge
funds and pension funds. MSCI products and services include
indices, portfolio risk and performance analytics, and governance
tools.
The company’s flagship product offerings are: the MSCI indices
which include 145,000 daily indices covering more than 70
countries; Barra portfolio risk and performance analytics covering
global equity and fixed income markets; RiskMetrics market and
credit risk analytics; ISS governance research and outsourced proxy
voting and reporting services; FEA valuation models and risk
management software for the energy and commodities markets; and
CFRA forensic accounting risk research, legal/regulatory risk
assessment, and due-diligence. MSCI is headquartered in New York,
with research and commercial offices around the world. MSCI#IR
For further information on MSCI, please visit our web site
at www.msci.com
Forward Looking Statements
This press release contains forward-looking statements. These
statements relate to future events or to future financial
performance and involve known and unknown risks, uncertainties and
other factors that may cause our actual results, levels of
activity, performance, or achievements to be materially different
from any future results, levels of activity, performance, or
achievements expressed or implied by these forward-looking
statements. In some cases, you can identify forward-looking
statements by the use of words such as “may,” “could,” “expect,”
“intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,”
“predict,” “potential,” or “continue” or the negative of these
terms or other comparable terminology. You should not place undue
reliance on forward-looking statements because they involve known
and unknown risks, uncertainties and other factors that are, in
some cases, beyond our control and that could materially affect
actual results, levels of activity, performance, or
achievements.
Other factors that could materially affect actual results,
levels of activity, performance or achievements can be found in
MSCI's Annual Report on Form 10-K for the fiscal year ended
November 30, 2010 and filed with the Securities and Exchange
Commission (SEC) on January 31, 2011, and in quarterly reports on
Form 10-Q and current reports on Form 8-K filed with the SEC. If
any of these risks or uncertainties materialize, or if our
underlying assumptions prove to be incorrect, actual results may
vary significantly from what we projected. Any forward-looking
statement in this release reflects our current views with respect
to future events and is subject to these and other risks,
uncertainties and assumptions relating to our operations, results
of operations, growth strategy and liquidity. We assume no
obligation to publicly update or revise these forward-looking
statements for any reason, whether as a result of new information,
future events, or otherwise.
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