CCC Intelligent flexes $800 million term loan B to Libor plus 250 bps

By Sara Rosenberg

New York, Sept. 17 – CCC Intelligent Solutions Inc. reduced pricing on its $800 million term loan B (B1/B) to Libor plus 250 basis points from Libor plus 275 bps, according to a market source.

Also, the original issue discount on the term loan was tightened to 99.75 from 99.5, the source said.

The term loan still has a 0.5% Libor floor and 101 soft call protection for six months.

BofA Securities Inc. is the left lead on the deal.

Proceeds will be used to refinance an existing term loan.

CCC is a Chicago-based SaaS platform powering the property and casualty insurance economy.

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