MSCI Completes Private Offering of $800 Million Senior Notes Due 2024 & Enters into $200 Million New Revolving Credit Agreement
20 Novembro 2014 - 7:30PM
Business Wire
MSCI Inc. (NYSE:MSCI) announced today that it has successfully
completed its previously announced private offering of $800 million
aggregate principal amount of 5.250% senior notes due November 15,
2024 (the “Offering”).
MSCI used the net proceeds from the Offering, together with cash
on hand, to prepay in full its $794.8 million of outstanding
indebtedness under its senior secured term loan facility and has
terminated such facility.
MSCI also announced today that it has entered into a new $200
million senior unsecured revolving credit agreement (the “New
Revolving Credit Agreement”) by and among MSCI, as borrower,
certain of its subsidiaries, as guarantors, the lenders party
thereto, and JPMorgan Chase Bank, N.A., as administrative agent.
Interest on the advances under the New Revolving Credit Agreement
will accrue at an annual rate based on LIBOR or the base rate plus,
in each case, an applicable margin. References to the New Revolving
Credit Agreement are qualified in their entirety by reference to
the full text of the agreement governing that facility, which will
be filed with the Securities and Exchange Commission (“SEC”) as an
exhibit to a current report on Form 8-K.
As a result of the Offering and New Revolving Credit Agreement,
MSCI expects annual interest expense, including the amortization of
financing fees, to be approximately $45 million (assuming the New
Revolving Credit Agreement remains undrawn and there is no
adjustment to the applicable rate). In addition, MSCI will record
during fourth quarter 2014 a non-cash charge of approximately $8
million, which reflects the accelerated amortization of deferred
financing and debt discount costs related to the prepayment of the
senior secured term loan facility.
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
indexes, portfolio risk and performance analytics, and ESG data and
research.
The Company's flagship product offerings are: the MSCI indexes
with over $9.5 trillion estimated to be benchmarked to them on a
worldwide basis1; Barra multi-asset class factor models, portfolio
risk and performance analytics; RiskMetrics multi-asset class
market and credit risk analytics; IPD real estate information,
indexes and analytics; MSCI ESG (environmental, social and
governance) Research screening, analysis and ratings; and FEA
valuation models and risk management software for the energy and
commodities markets. MSCI is headquartered in New York, with
research and commercial offices around the world. MSCI#IR
1As of June 30, 2014, as reported on September 30, 2014, by
eVestment, Lipper and Bloomberg
For further information on MSCI, please visit our website
at www.msci.com
Forward-Looking Statements
This press release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. 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
December 31, 2013 filed with the SEC on February 28, 2014, 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 MSCI
projected. Any forward-looking statement in this release reflects
MSCI’s current views with respect to future events and is subject
to these and other risks, uncertainties and assumptions relating to
MSCI’s operations, results of operations, growth strategy and
liquidity. MSCI assumes 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, except as
required by law.
MSCI Inc.MSCI, New YorkStephen
Davidson, 212-981-1090orMedia Inquiries:MSCI, LondonJo Morgan,
+ 44.20.7618.2224orMSCI, New YorkKristin Meza, 212-804-5330orMHP
Communications, LondonSally Todd, + 44.20.3128.8100orChristian
Pickel, + 44.20.3128.8100
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