RiskMetrics to launch $455 million credit facility Tuesday

By Sara Rosenberg

New York, Dec. 8 - RiskMetrics Group is scheduled to hold a bank meeting on Tuesday at 2 p.m. ET to launch its proposed $455 million credit facility, according to a market source.

Bank of America is the lead bank on the deal.

The facility consists of a $25 million six-year revolver, a $300 million seven-year term loan B and a $130 million 71/2-year second-lien term loan, the source said, adding that price is to be determined.

Commitments from lenders will be due on Dec. 22.

Proceeds will be used to fund the acquisition of Institutional Shareholder Services Inc., a Rockville, Md.-based provider of proxy voting and corporate governance services to the institutional marketplace.

Combined, RiskMetrics Group and ISS will generate over $200 million in revenue per year with about 800 employees across 23 offices serving over 2400 clients worldwide

RiskMetrics is a New York-based financial risk management firm.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.