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MSCI closes private debt offering

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MSCI closes private debt offering

MSCI Inc. completed its private offering of $500.0 million aggregate amount of 5.375% senior notes due May 15, 2027.

MSCI plans to use the net proceeds for general corporate purposes, including, without limitation, repurchasing its common stock and potential acquisitions.

In addition, MSCI amended its Nov. 20, 2014, revolving credit agreement to raise the borrowing limit by $30.0 million to an aggregate of $250.0 million. The company extended the term of the agreement to May 2023 and reduced the applicable rate and applicable fee rate for loans and commitments as well.

As a result of the amendment, MSCI expects annual interest expense, including the amortization of financing fees, to be approximately $133.0 million for the year ending Dec. 31 and about $143.5 million on an annualized basis thereafter.