MSCI Inc. Enters Material Definitive Agreement, New Financial Obligation

TL;DR

**MSCI Inc. just took on a new financial obligation, watch for details on its impact.**

AI Summary

MSCI Inc. filed an 8-K on January 29, 2024, reporting an event on January 26, 2024, concerning the entry into a material definitive agreement and the creation of a direct financial obligation. This filing indicates that MSCI Inc. has undertaken a new financial commitment, which could impact its balance sheet and future financial performance. Investors should pay attention to the details of this agreement as it could affect the company's profitability and risk profile.

Why It Matters

This filing signals a new financial commitment for MSCI Inc., which could affect its debt levels, cash flow, and ultimately, its stock valuation. Understanding the nature of this obligation is crucial for assessing the company's financial health.

Risk Assessment

Risk Level: medium — The filing indicates a new financial obligation without specifying its nature or size, introducing uncertainty about its potential impact on the company's financial health.

Analyst Insight

A smart investor would monitor MSCI Inc.'s subsequent filings and earnings calls for specific details regarding the material definitive agreement and the direct financial obligation to assess their impact on the company's financial health and future prospects.

Key Players & Entities

• MSCI Inc. (company) — the registrant filing the 8-K
• January 26, 2024 (date) — date of the earliest event reported
• January 29, 2024 (date) — date the 8-K was filed

Forward-Looking Statements

• MSCI Inc. will disclose the specific terms of the material definitive agreement and financial obligation in a subsequent filing or earnings call. (MSCI Inc.) — high confidence, target: Q1 2024 earnings report

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share MSCI New York Stock Excha
• $1,250.0 million — vailable to the Company an aggregate of $1,250.0 million of revolving loan commitments, which ma

Filing Documents

• dp205729_8k.htm (8-K) — 32KB
• dp205729_ex1001.htm (EX-10.1) — 1127KB
• 0000950103-24-001197.txt ( ) — 1549KB
• msci-20240126.xsd (EX-101.SCH) — 3KB
• msci-20240126_lab.xml (EX-101.LAB) — 33KB
• msci-20240126_pre.xml (EX-101.PRE) — 22KB
• dp205729_8k_htm.xml (XML) — 4KB

01

Item 1.01 Entry into a Material Definitive Agreement. Second Amended and Restated Credit Agreement On January 26, 2024, MSCI Inc. (the "Company"), the lenders party thereto and JPMorgan Chase Bank, N.A., in its capacity as administrative agent, entered into a Second Amended and Restated Credit Agreement (the "Credit Agreement"), amending and restating in its entirety the Amended and Restated Credit Agreement (the "Existing Credit Agreement"), dated as of June 9, 2022, among the Company, JPMorgan Chase Bank, N.A., as Administrative Agent and L/C Issuer, and the other parties thereto. The Credit Agreement makes available to the Company an aggregate of $1,250.0 million of revolving loan commitments, which may be drawn until January 26, 2029. The revolving loans under the Credit Agreement were drawn at closing in an amount sufficient to prepay all term loans outstanding under the Existing Credit Agreement. The obligations under the Credit Agreement are general unsecured obligations of the Company. Interest on the revolving loans under the Credit Agreement accrues, at a variable rate, based on the secured overnight funding rate ("SOFR") or the alternate base rate ("Base Rate"), plus, in each case, an applicable margin to be determined based on the credit ratings of the Company's senior, unsecured long-term debt and will be due on each Interest Payment Date (as defined in the Credit Agreement). So long as the credit rating for the Company's senior, unsecured long-term debt is set at BBB-/BBB- by each of S&P and Fitch, respectively, the applicable margin is 0.50% for Base Rate loans, and 1.50% for SOFR loans. The Credit Agreement also contains customary events of default, representations and warranties and covenants, including, among other things, covenants that restrict the ability of the subsidiaries of the Company to incur certain additional indebtedness and restrict the ability of the Company and its subsidiaries to create or permit liens on assets, engage in sa

03

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information in Item 1.01 of this Form 8-K is hereby incorporated by reference into this Item 2.03.

01

Item 8.01 Other Events. On January 26, 2024, in accordance with the terms of the Indentures, each of the Subsidiary Guarantors was released from its guarantees under the Indentures.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No . Description Exhibit 10.1 Second Amended and Restated Credit Agreement, dated as of January 26, 2024, among MSCI Inc., JPMorgan Chase Bank, N.A., as Administrative Agent and L/C Issuer and the other lenders party thereto. Exhibit 104 Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MSCI Inc. Date: January 29, 2024 By: /s/ Henry A. Fernandez Name: Henry A. Fernandez Title: Chairman and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR