New York, United States
MSCI Inc. (NYSE:MXB), a leading provider of investment decision support tools including indices and portfolio analytics, announced that it has closed its initial public offering (IPO) as well as a $500 million credit facility.
The underwriters of the IPO exercised the option to purchase 2.1 million additional shares of class A common stock from MSCI at the public offering price of $18.00 per share, less the underwriting discount. In total, 16.1 million shares of class A common stock were sold in the IPO. The proceeds of the IPO have been used to pay a portion of a demand note held by Morgan Stanley. MSCI has borrowed $425 million under the new credit facility to pay the remainder of the demand note.
About MSCI Inc.
MSCI Inc. is a leading provider of investment decision support tools to investment institutions worldwide. MSCI Inc. products include indices and portfolio analytics for use in managing equity, fixed income and multi-asset class portfolios.
The company's flagship products are the MSCI International Equity Indices, which are estimated to have over USD 3 trillion benchmarked to them, and the Barra risk models and portfolio analytics, which cover 56 equity and 46 fixed income markets. MSCI Inc. is headquartered in New York, with research and commercial offices around the world. Morgan Stanley, a global financial services firm, is the majority shareholder of MSCI Inc. MXB#IR
For further information on MSCI Inc. or MSCI Barra products please visit www.mscibarra.com.
Source: Business Wire (Business Wire India)