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Solera plans to sell $350 million seven-year senior notes via Goldman Sachs and Merrill Lynch
By Paul A. Harris
Portland, Ore., June 7 - Audatex North America, Inc., a wholly owned subsidiary of Solera Holdings, Inc., announced in a Tuesday press release that it plans to sell $350 million of seven-year senior notes (/BB-/).
Goldman Sachs & Co. and Bank of America Merrill Lynch will lead the Rule 144A and Regulation S offering, according to a market source, who added that timing has not yet been announced.
Proceeds, together with cash on hand, will be used to finance the acquisition of Explore Information Services, LLC by Claims Services Group, Inc., a wholly owned subsidiary of Audatex.
Solera is a Dallas-based provider of software and services to the automobile insurance claims processing industry.
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