CCC Information to launch $520 million credit facility on Wednesday

By Sara Rosenberg

New York, Dec. 3 - CCC Information Services Inc. is set to hold a bank meeting on Wednesday morning to launch a $520 million senior secured credit facility, according to sources.

Goldman Sachs & Co. and J.P. Morgan Securities LLC are the lead banks on the deal.

The facility consists of a $50 million five-year revolver and a $470 million seven-year covenant-light term loan, sources said.

Proceeds will be used to help fund the company's acquisition by Leonard Green & Partners from Investcorp.

Other funds for the transaction will come from mezzanine financing.

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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