Solera Holdings Closes Private Offering of Senior Notes

Solera Holdings announced that its indirect wholly-owned subsidiary, Audatex North America Inc., has closed a private offering of an additional $175.0 million aggregate principal amount of its 6.000 percent senior notes due 2021 and an additional $225.0 million aggregate principal amount of its 6.125 percent senior notes due 2023.

The New 2021 Notes were issued at an issue price of 104.50 percent of their principal amount, plus accrued interest from June 15, 2014, and the 2023 Notes were issued at an issue price of 104.50 percent of their principal amount, plus accrued interest from November 1, 2014.

The New 2021 Notes were issued as additional notes under the indenture governing the outstanding $1.51 billion in aggregate principal amount of the Issuer’s 6.000 percent Senior Notes due 2021 that were issued on July 2, 2013, November 5, 2013 and June 2, 2014.  The New 2023 Notes were issued as additional notes under the indenture governing the outstanding $340.0 million in aggregate principal amount of the Issuer’s 6.125 percent Senior Notes due 2023 that were issued on November 5, 2013.

“Audatex intends to use the net proceeds from the offering, together with cash on hand, to fund the purchase price of an acquisition that the company is in the late-stages of negotiating, whose purchase price could exceed $450.0 million,” according to officials.

“In the event that the company does not complete the potential acquisition, it intends to use the net proceeds for working capital and other general corporate purposes, which may include funding one or more strategic initiatives that it may undertake from time to time,” they added in a statement.

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