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Solera Holdings prices, increases its 6% senior notes due 2021 in private offering

Solera Holdings, Inc. (NYSE: SLH) said that its indirect wholly-owned subsidiary, Audatex North America, Inc., priced and increased its offering from an additional USD100.0m to an additional USD150.0m aggregate principal amount of its 6.000 percent senior notes due 2021.

The new 2021 notes will be issued as additional notes under the indenture governing the outstanding USD1.36bn in aggregate principal amount of the Issuer´s 6.000 percent senior notes due 2021 that were issued on July 2, 2013 and November 5, 2013. Solera anticipates that the closing of the offering will take place on or about June 2, 2014, subject to customary closing conditions. The new 2021 notes are priced at 106.500 percent of their principal amount, plus accrued interest from December 15, 2013. The new 2021 notes will be guaranteed by Solera and substantially all of Solera´s material wholly-owned domestic subsidiaries.

Audatex said intends to use the proceeds from the offering for working capital and other general corporate purposes, which may include funding the acquisition of the insurance and services division of Pittsburgh Glass Works, LLC, potential put or call options on securities of Solera´s Service Repair Solutions joint venture and one or more additional strategic initiatives that it may undertake from time to time.

Solera is a leading global provider of software and services to the automobile insurance claims processing and decision support industries. Solera is active in over 65 countries across six continents.


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