CCC Information Services $207.5 million credit facility to launch Tuesday

By Sara Rosenberg

New York, July 29 - CCC Information Services Group Inc. is scheduled to hold a bank meeting Tuesday for its proposed $207.5 million credit facility, according to a syndicate document.

Credit Suisse First Boston is the sole lead arranger and bookrunner on the deal. Jefferies & Co. is syndication agent.

The facility consists of a $30 million five-year revolving credit facility with a 50 basis points commitment fee and a $177.5 million six-year term loan B, the document said. Pricing is still to be determined.

Proceeds will be used for recapitalization purposes.

The company announced the commencement of a self-tender offer on Tuesday for up to 11.2 million shares at a price of $18.75 per share. The shares that the company is offering to purchase represent about 41.9% of its shares issued and outstanding on June 30. The tender offer will expire on Aug. 24.

CCC Information Services is a Chicago supplier of technology solutions to the automotive claims and collision repair industries.

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