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SELECTED TRANSACTION DETAILS
Bank of America, Others Arrange $1.05B Senior Credit Facility for CCC Intelligent Solutions
Friday, September 24, 2021

Lenders/Participants Bank of America [Joint Lead Arranger, Joint Bookrunner]
JPMorgan Chase Bank [Joint Lead Arranger, Joint Bookrunner]
Goldman Sachs Bank USA [Joint Lead Arranger, Joint Bookrunner]
Citigroup [Joint Lead Arranger, Joint Bookrunner]
Barclays [Joint Lead Arranger, Joint Bookrunner]
Credit Suisse Bank [Joint Lead Arranger, Joint Bookrunner]
Jefferies Finance [Joint Lead Arranger, Joint Bookrunner]
Morgan Stanley [Joint Lead Arranger, Joint Bookrunner]
Structure $800MM Term Loan; $250MM Revolving Credit Facility
Amount $1.050 Billion
Borrower(s) CCC Intelligent Solutions
Description Company completed the successful refinancing of its existing secured credit facility with a new credit agreement comprised of an $800 million senior secured term loan facility and a $250 million senior secured revolving credit facility. The Term Loan bears interest at a rate of (i) LIBOR (subject to a 0.50% floor) + initially 2.50% per annum or (ii) ABR + initially 1.50% (in each case, with a 0.25% leverage based step-down, tied to achieving a first lien net leverage ratio of 2.50x), and matures on September 21, 2028. The Revolving Facility bears interest at a rate of (i) LIBOR for dollar denominated borrowings (subject to a 0.00% floor) + initially 2.50% or (ii) ABR + initially 1.50% (in each case, with two 0.25% leverage based step-down, tied to achieving a first lien net leverage ratio of 2.50x and 2.00x respectively) and matures on September 21, 2026. The proceeds, together with cash on hand, were used to refinance all of the term loans and revolving credit facility amounts outstanding under the existing credit facility and to pay fees and expenses of the transaction, including termination of the company’s interest rate swap agreements.
Industry Technology
Related Tags Bank of America, Barclays, Citigroup, Credit Suisse, Goldman Sachs Bank USA, Jefferies Finance, JPMorgan Chase Bank, Morgan Stanley




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