CCC Information launches $350 million term loan B at discount of 99

By Sara Rosenberg

New York, Dec. 1 - CCC Information Services Inc. launched its $350 million five-year term loan B on Wednesday with an original issue discount of 99, according to a market source.

As was previously reported, the term loan B and the company's $50 million 41/2-year revolver are being talked at Libor plus 450 basis points with a 1.5% Libor floor.

JPMorgan and Barclays are the lead banks on the $400 million credit facility (B1/B+).

Proceeds will be used to refinance existing debt.

CCC is a Chicago-based provider of advanced software, workflow tools and enabling technologies to the automotive claims and collision repair industries.

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