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CCC Information firms $470 million term loan at Libor plus 300 bps
By Sara Rosenberg
New York, May 1 - CCC Information Services Inc. finalized pricing on its roughly $470 million term loan (B1) at Libor plus 300 basis points, the tight end of the Libor plus 300 bps to 325 bps talk, according to a market source.
As before, the loan has a 1% Libor floor, a par offer price and 101 soft call protection for six months.
Goldman Sachs & Co. and J.P. Morgan Securities LLC are the lead banks on the deal.
Proceeds will be used to reprice an existing term loan from Libor plus 400 bps with a 1.25% Libor floor.
CCC is a Chicago-based provider of advanced software and workflow tools to the insurance automotive claims and collision repair industries.
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