Daily News: April 17, 2012

MSCI Seeks New Credit Facility With Morgan Stanley, Others


MSCI Inc., a provider of investment decision support tools worldwide, including indices, portfolio risk and performance analytics and corporate governance services, announced its intention to launch a partial refinancing of its outstanding senior secured term loan B facility.

Morgan Stanley MUFG Loan Partners (acting through Morgan Stanley Senior Funding and The Bank of Tokyo Mitsubishi UFJ) and J.P. Morgan Securities will be joint lead arrangers and the joint bookrunners on the transaction.

MSCI is seeking to obtain a new $600 million five-year term loan A facility, the proceeds of which, together with $206 million of cash on hand, it expects to use to repay up to $800 million of the existing senior secured term loan B facility and pay related fees and expenses. MSCI is also seeking to extend the maturity of its $100 million senior secured revolving facility and amend certain covenants in the credit agreement governing the facilities. There can be no assurance that MSCI will be able to obtain the new facility, the maturity extension or the covenant amendments.