NEW YORK--(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.
MSCI Inc., New York:
Edings Thibault, + 1-866-447-7874
or
Media
Enquiries:
MHP Communications, London
Sally Todd | Kirsty
Fitzpatrick, + 44-20-3128-8100
or
Abernathy MacGregor, New York
Kenny
Juarez | Patrick Clifford, + 1-212-371-5999
Source: MSCI Inc.
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