Moody’s to repay some term loans due 2020 via new notes issue

By Susanna Moon

Chicago, June 1 – Moody’s Corp. plans to repay some of its $350 million term loan facility due June 6, 2020 using proceeds of a new issue of notes, according to a 424B5 filing with the Securities and Exchange Commission.

Interest on the loans is 3.5% and ranges from Libor plus 87.5 basis points to 150 bps based on the company’s debt rating.

The loan agreement is dated June 6, 2017 with JPMorgan Chase Bank, NA as administrative agent, with proceeds used to finance the acquisition of Bureau van Dijk.

Moody’s is a New York-based credit ratings and research agency.

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