Morningstar plans $750 million credit facilities for DBRS purchase

By Sara Rosenberg

New York, June 3 – Morningstar Inc. has received a commitment for $750 million of credit facilities to help fund its $669 million acquisition of DBRS, according to an 8-K filed with the Securities and Exchange Commission on Monday.

Bank of America Merrill Lynch provided the debt commitment.

The facilities consist of a $300 million revolver and a $450 million term loan.

Other funds for the transaction will come from cash on hand.

Closing is expected in the third quarter, subject to regulatory approval and customary conditions.

Morningstar is a Chicago-based provider of independent investment research. DBRS is a credit ratings agency.

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