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Solera holds investor call for $350 million seven-year senior notes
By Paul A. Harris
Portland, Ore., June 8 - Solera Holdings, Inc. held a Wednesday investor call for a $350 million offering of seven-year senior notes (/BB-/), according to an informed source.
The deal was also presented on Wednesday to investors in New York City. Further presentations were scheduled for Thursday in Boston.
Goldman Sachs & Co. is the left bookrunner. Bank of America Merrill Lynch is the joint bookrunner.
The Rule 144A for life and Regulation S notes come with three years of call protection.
The issuing entity is Audatex North America, Inc., a wholly owned subsidiary of Solera.
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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