Solera Holdings, Inc. Announces Launch of $700 Million Senior Note Private Offering
WESTLAKE, Texas, June 27, 2013 /PRNewswire/ -- Solera Holdings, Inc. ("Solera" or "Company") (NYSE: SLH) announced today that its indirect wholly-owned subsidiary Audatex North America, Inc. ("Audatex"), plans to issue $700 million aggregate principal amount of senior notes due 2021 (the "Notes") in a private offering. The Notes will be guaranteed by Solera and all of Solera's domestic subsidiaries (other than Audatex and certain immaterial domestic subsidiaries).
Audatex intends to use the proceeds from the offering to repay all of the outstanding indebtedness under its senior secured credit facility and pay related fees and expenses. The remaining net proceeds used will be used as working capital and for other general corporate purposes, which may include funding one or more strategic initiatives that the Company may undertake from time to time. Such strategic initiatives may include future acquisitions, joint ventures, investments or other business development opportunities. As of the date of this press release, the Company has not entered into any material agreements, commitments or understandings relating to any significant transaction of this type. The Company, however, is currently in negotiations with regard to a significant acquisition opportunity.
The Notes will be offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain persons outside of the U.S. pursuant to Regulation S under the Securities Act. Neither the 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.
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 and Greece, 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 and Latin American 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.