Davis Polk advised MSCI Inc. in connection with the amendment and restatement of its credit agreement and the refinancing of its existing credit facilities with $880 million of senior secured term loans and a $100 million revolving credit facility. The proceeds of the new term facility, together with cash on hand, were used to prepay $1.08 billion of term loans outstanding under MSCI’s existing facilities. The obligations under the new credit facilities are guaranteed by all of its domestic subsidiaries and secured by substantially all of the assets of the guarantors.
MSCI Inc. is a leading provider of investment decision support tools to investment institutions worldwide. MSCI’s products include indices and portfolio risk and performance analytics for use in managing equity, fixed-income and multi-asset class portfolios.
The Davis Polk credit team included partner Sartaj Gill, associates Shakhi Majumdar and Steven Schuh, and law clerk Faizan A. Tukdi. Partner Michael Mollerus provided tax advice. The Investment Company Act team included associate Catherine L. Martin and law clerk Jake H. Wang. Megan M. Teixeira was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.
