Morgan Stanley Preps $1.3B TL for MSCI
March 3, 2010
Morgan Stanley has arranged a $1.275 billion term loan for New York-based MSCI, which manages equity, fixed income, and hedge fund indices for large asset management firms. Price talk is at Libor plus 350 bps, with a 1.5% Libor floor, according to Bloomberg. A launch date could not be determined.
MSCI plans to use the proceeds to help back its acquisition of New York-based RiskMetrics Group, which provides risk management services to banks, corporations, asset managers, and other institutional investors.
The boards of both companies have approved the deal. However, they are still waiting for approval from regulators and RiskMetrics' shareholders.
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