UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 15, 2019
MSCI Inc.
(Exact name of Registrant as Specified in Its Charter)
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Delaware | | 001-33812 | | 13-4038723 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
7 World Trade Center, 250 Greenwich Street, 49th Floor, New York, New York 10007
(Address of principal executive offices) (Zip Code)
(212) 804-3900
(Registrant’s telephone number, including area code)
NOT APPLICABLE
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| | ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| | ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| | ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| | ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
Common Stock, par value $0.01 per share | | MSCI | | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 1.01 | Entry into a Material Definitive Agreement. |
Amendment to Revolving Credit Agreement
On November 15, 2019, MSCI Inc. (the “Company”), the guarantors party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., in its capacity as administrative agent, entered into Amendment No. 3 (the “Amendment”) to the Revolving Credit Agreement, dated as of November 20, 2014 (as amended, the “Revolving Credit Facility”). The Amendment (i) permits the Company to increase the aggregate commitments available to be borrowed by $150.0 million, to an aggregate of $400.0 million of availability thereunder, (ii) extends the term to November 2024, (iii) decreases the applicable rate and applicable fee rate for loans and commitments under the Revolving Credit Facility and (iv) amends certain restrictive covenants under the Revolving Credit Facility that limit, among other things, the Company’s and the Company’s existing and future subsidiaries’ financial flexibility.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, attached hereto as Exhibit 10.1, and incorporated herein by reference.
| 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.
Partial Redemption of 5.250% Senior Notes due 2024
On November 18, 2019, the Registrant provided a notice of redemption of its 5.250% Senior Notes due 2024 (the “2024 Notes”) calling for redemption of $500,000,000 aggregate principal amount of the $800,000,000 aggregate principal amount of outstanding 2024 Notes on December 18, 2019 in accordance with the indenture governing the 2024 Notes. The notice of redemption is conditioned upon the consummation of one or more debt financing transactions by the Registrant providing gross proceeds in an aggregate amount of at least $500,000,000. This Form 8-K does not constitute a notice of redemption under such indenture.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
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.
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| | | | MSCI Inc. |
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Date: November 18, 2019 | | | | By: | | /s/ Henry A. Fernandez |
| | | | Name: | | Henry A. Fernandez |
| | | | Title: | | Chairman and Chief Executive Officer |
