Jefferies & Co. will be acting as syndication agent on the $207.5 million recapitalization for CCC Information Systems alongside sole lead arranger and book runner Credit Suisse First Boston. The credit, which is set to launch tomorrow afternoon, is being done in conjunction with a self tender offer for around 42% of common shares and options, said a banker. CSFB and Jefferies are dealer managers on the tender offer. An affiliate of Harvard University's endowment fund owns about 35% of the company.
The bank facility comprises a five-year, $30 million revolver and six-year, $177.5 million "B" loan. There is no price talk yet, the banker said. The company currently has a small revolver led by Harris Bank, he added. A CSFB banker declined comment and Jefferies officials did not return calls. Patrick Donoghue, the company's v.p. and treasurer, did not return calls.