Solera Holdings’ indirect wholly-owned subsidiary, Audatex North America has closed a private offering of $150 million aggregate principal amount of its 6.000 percent senior notes due 2021. The New 2021 Notes were offered at an issue price of 106.50 percent of their principal amount, plus accrued interest from December 15, 2013. The New 2021 Notes were issued as additional notes under the indenture governing the outstanding $1.36 billion 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.
Audatex 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, in addition to 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, according to company officials.
The New 2021 Notes were offered to “qualified institutional buyers” pursuant to Rule 144A under the Securities Act of 1933, as amended, and to certain persons outside of the U.S. pursuant to Regulation S under the Securities Act. Neither the New 2021 Notes nor the related guarantees have been registered under the Securities Act or any state or other securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of the Securities Act and applicable state securities laws.