CCC Intelligent loan facility includes $250 million revolver

Chicago, Sept. 23 – CCC Intelligent Solutions Inc. announced that its new senior secured credit facility contains a $250 million senior secured revolver, in addition to the previously reported $800 million term loan B, according to a press release.

The revolver matures on Sept. 21, 2026.

Interest is based on Libor plus 250 basis points initially, with a 0% Libor floor. There are two 25 bps step-downs based on a decreased net leverage ratio of 2.5x and 2x for each reduction.

As previously reported, the term loan has an interest rate based on Libor plus 250 bps, with a 0.5% floor.

The rate will step down 25 bps if the company achieves a first-lien net leverage ratio of 2.5x.

Proceeds from the facilities were used to refinance all of the term loans and revolving credit facility amounts under an existing credit facility.

Bank of America, JPMorgan Chase Bank, NA, Goldman Sachs Bank USA, Citigroup, Barclays, Credit Suisse, Jefferies Finance LLC and Morgan Stanley were joint lead arrangers and joint bookrunners for the facility.

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

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