CCC Information trims $350 million term B pricing to Libor plus 400 bps

By Sara Rosenberg

New York, Dec. 10 - CCC Information Services Inc. reduced pricing on its $350 million five-year term loan B to Libor plus 400 basis points from talk of Libor plus 450 bps, according to a market source.

As before, the term loan B includes a 1.5% Libor floor and original issue discount of 99.

Recommitments were due on Friday and allocations are expected during the week of Dec. 13.

The company's $400 million credit facility (B1/B+) also provides for a $50 million 41/2-year revolver.

JPMorgan and Barclays are the lead banks on the.

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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