MSCI Inc (MSCI) has released an update to notify the public and investors about an entry into a material definitive agreement.
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MSCI Inc. entered into a Second Amended and Restated Credit Agreement on January 26, 2024, with JPMorgan Chase Bank and other lenders, which supersedes the previous agreement from June 9, 2022. This new agreement provides MSCI Inc. with $1,250 million in revolving loan commitments available until January 26, 2029, and includes provisions for variable interest rates based on SOFR or Base Rate plus an applicable margin. The agreement imposes financial covenants on leverage and interest coverage ratios and contains customary events of default, representations, and restrictions on additional indebtedness and certain transactions. Subsidiary guarantees from previous agreements were released upon the execution of this new agreement. The funds from the loans are designated for general corporate purposes.
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