CCC Information to launch $1.4 billion credit facility on Wednesday

By Sara Rosenberg

New York, March 17 – CCC Information Services Inc. is set to hold a bank meeting at 10:30 a.m. ET on Wednesday to launch a $1.4 billion senior secured credit facility, according to market sources.

The facility consists of a $100 million five-year revolver, a $925 million seven-year first-lien term loan and a $375 million eight-year second-lien term loan, sources said.

Included in the first-lien term loan is 101 soft call protection for six months, and the second-lien term loan has hard call protection of 102 in year one and 101 in year two.

Jefferies Finance LLC and Nomura are the bookrunners on the deal, with Jefferies left lead on the first-lien debt and Nomura left lead on the second-lien loan.

Proceeds will be used to help fund the buyout of the company by Advent International from Leonard Green Partners and Texas Pacific Group and to refinance existing debt.

Closing is expected early in the second quarter.

CCC Information is a Chicago-based provider of mission-critical infrastructure to the automotive insurance and claim industry through its integrated software, data, analytics and workflow management systems.

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