Duck Creek Technologies enters $715 million credit facility after merger

By Mary-Katherine Stinson

Lexington, Ky., March 30 – Duck Creek Technologies, Inc. as guarantor, with Disco Parent, LLC as the borrower, entered a credit agreement with Alter Domus (US) LLC as administrative agent and collateral agent providing a $650 million term loan facility and a $65 million revolving loan facility, according to an 8-K filing with the Securities and Exchange Commission.

The obligations under the agreement are secured on a first priority basis by substantially all assets of Disco Parent and the guarantors.

Duck Creek was acquired by Disco Parent on March 30 with Duck Creek continuing as the surviving corporation.

Concurrently with the closing of the merger, Duck Creek repaid all loans and terminated all credit commitments outstanding under its amended and restated credit agreement dated Oct. 22, 2021 with Bank of America, NA as administrative agent.

Boston-based Duck Creek provides software-as-a-service core systems to the property and casualty insurance industry.

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