MSCI Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by MSCI Inc. on March 23, 2010. The filing details the entry into material definitive agreements related to financing for the proposed acquisition of RiskMetrics Group, Inc.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, or liquidity metrics. It focuses exclusively on debt financing commitments.
- Total Senior Secured Credit Facilities: $1,375 million
- Term Loan Facility: $1,275 million (six-year term)
- Revolving Credit Facility: $100 million (five-year term)
Material Changes and Agreements
On March 23, 2010, MSCI entered into syndication and documentation agent commitment letters to expand the lender base for the acquisition financing originally committed by Morgan Stanley Senior Funding, Inc. (MSSF) on February 28, 2010.
- New Lenders: Credit Suisse and Bank of America.
- Commitment Allocation: Each new lender committed to providing $127.5 million of the Term Loan and $10.0 million of the Revolving Credit Facility.
- Adjustment to MSSF: MSSF's commitments were reduced by the aggregate amount of the new commitments from Credit Suisse and Bank of America.
Outlook, Risks, and Management Commentary
The filing confirms the progression of the proposed merger with RiskMetrics Group, Inc. by securing additional syndication partners. The text does not provide specific management commentary on future performance, risks, or contingencies beyond the terms of the credit facilities.
Key Facts for Investor Verification
- Verify the closing status of the proposed acquisition of RiskMetrics Group, Inc.
- Confirm the final interest rates and covenants associated with the $1,375 million credit facilities.
- Review the full text of the Syndication Agent Commitment Letter (Exhibit 10.1) and Documentation Agent Commitment Letter (Exhibit 10.2) for conditions precedent.
- Monitor whether the aggregate commitments for the Term Loan are subject to pro rata reduction as noted in the agreement.