Solera Holdings, Inc. Announces Launch of $300 Million Senior Note Private Offering
DALLAS, April 10, 2012 /PRNewswire/ -- Solera Holdings, Inc. ("Solera") (NYSE: SLH) announced today that its indirect wholly-owned subsidiary Audatex North America, Inc. ("Audatex"), plans to issue $300 million aggregate principal amount of 6.75% senior notes due 2018 (the "Notes") in a private offering. The Notes will be guaranteed by Solera and all of Solera's domestic subsidiaries (other than Audatex and two immaterial domestic subsidiaries) and will have identical terms to, and are expected to be treated as a single class with, the $450 million in aggregate principal amount of 6.75% senior notes due 2018 issued on June 14, 2011.
Audatex intends to use the proceeds from the offering to repay those lenders under its existing senior credit facility that did not elect to extend their loans under the terms of its amended senior credit facility, and to use the remainder of any such net proceeds for working capital and other general corporate purposes, including strategic initiatives such as future acquisitions, joint ventures, investments or other business development opportunities.
The Notes and related guarantees have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any other jurisdiction, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements. This offering will be made only to qualified institutional buyers in accordance with Rule 144A under the Securities Act and to non-U.S. persons in accordance with Regulation S under the Securities Act.
This press release is issued pursuant to Rule 135c of the Securities Act, and shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Solera is the leading global provider of software and services to the automobile insurance claims processing industry. Solera is active in over 60 countries across six continents. The Solera companies include Audatex in the United States, Canada, and in more than 45 additional countries, Informex in Belgium, Sidexa in France, ABZ and Market Scan in the Netherlands, HPI in the United Kingdom, Hollander serving the North American recycling market, AUTOonline providing salvage disposition in a number of European, Latin American and Asian countries, IMS providing medical review services, and Explore providing data and analytics to United States property and casualty insurers.
The above information includes "forward looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements only reflect Solera's and Audatex's best assessment at this time and are indicated by words or phrases such as "plans," "intends," "will," or similar words or phases. Investors are cautioned that forward-looking statements involve risks and uncertainty that actual results may differ materially from such statements and that investors should not place undue reliance in such statements.
SOURCE Solera Holdings, Inc.
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