MSCI Inc. (MSCI): debt financing — MSCI enters new $1.25B credit facility, replaces existing $850M in loans

MSCI Inc.

New $1.25B revolving credit facility matures January 2029; replaces existing $500M revolver and $350M term loan.
Subsidiary guarantors released from guarantees under prior credit agreement and indentures upon termination.
Interest rate: SOFR + 1.50% or Base Rate + 0.50% (at current ratings of BBB-/BBB-); applies to drawn amounts.
Proceeds used for general corporate purposes, including working capital and acquisitions.
Maintains leverage ratio covenant (max 4.25:1) and interest coverage ratio (min 4.00:1).

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

MSCI Inc. incurred revolving credit of $1,250.0 million with JPMorgan Chase Bank, N.A. at SOFR plus 1.50% maturing January 26, 2029.

Instrument: revolving credit
Principal: $1,250.0 million
Counterparty: JPMorgan Chase Bank, N.A.
Rate: SOFR plus 1.50%
Maturity: January 26, 2029
Event: incurrence

Exact text from the filing

The Credit Agreement makes available to the Company an aggregate of $1,250.0 million of revolving loan commitments, which may be drawn until January 26, 2029.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MSCI Inc. entered into Credit Agreement with JPMorgan Chase Bank, N.A., in its capacity as administrative agent valued at $1,250.0 million (effective 2024-01-26).

Action: entry
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., in its capacity as administrative agent
Value: $1,250.0 million
Effective: 2024-01-26

Exact text from the filing

On January 26, 2024, MSCI Inc. (the “Company”), the lenders party thereto and JPMorgan Chase Bank, N.A., in its capacity as administrative agent, entered into a Second Amended and Restated Credit Agreement (the “Credit Agreement”), amending and restating in its entirety the Amended and Restated Credit Agreement (the “Existing Credit Agreement”), dated as of June 9, 2022, among the Company, JPMorgan Chase Bank, N.A., as Administrative Agent and L/C Issuer, and the other parties thereto.

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283 debt financings filed in the last 30 days. Browse all debt financings →

MSCI Inc. filing history →

Source: SEC EDGAR

accession 0000950103-24-001197

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