MSCI enters into $850M credit facility; $350M term loan drawn, $500M revolver undrawn

MSCI Inc.

Restated credit facility: $500M revolver undrawn, $350M term loan fully drawn on June 9, 2022.
Term loans mature February 2027; quarterly amortization begins Oct 15, 2022; interest initially SOFR + 2.00%.
Expected incremental interest expense of ~$9M in fiscal 2022 based on SOFR forward curve.
Proceeds for general corporate purposes including potential share repurchases, investments, and M&A.
Financial covenants: max consolidated leverage ratio 4.25:1.00, min interest coverage 4.00:1.00.

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