WESTLAKE, Texas, Aug. 16, 2017 /PRNewswire/ -- Solera Holdings, Inc. ("Solera") announced today that its parent entities, Solera, LLC and Solera Finance, Inc. (collectively, the "Issuers"), plan to issue additional 10.500% senior notes due 2024 (the "New 2024 Notes") in an aggregate principal amount of $275.0 million in a private offering. The New 2024 Notes will be issued as additional notes under the indenture governing the outstanding $1,730,000,000 in aggregate principal amount of the Issuers' 10.500% senior notes due 2024 that were issued on March 3, 2016. The New 2024 Notes will be guaranteed by each of the existing and future restricted subsidiaries of the Issuers on a senior unsecured basis to the extent such subsidiary guarantees the senior secured credit facilities or certain syndicated bank debt and capital markets debt securities. The Issuers intend to use a portion of the net proceeds from the offering to repay outstanding borrowings under their revolving credit facility and any remaining net proceeds will be used by the Issuers for general corporate purposes, including continuing to actively seek, evaluate and potentially pursue strategic initiatives.
The New 2024 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 New 2024 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 for informational purposes 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.
The above information includes "forward looking" statements as defined in the Private Securities Litigation Reform Act of 1995, including statements about the proposed offering and the use of the net proceeds of the proposed offering. Such statements only reflect Solera's and the Issuers' best assessment at this time and are indicated by words or phrases such as "plans," "intends," "will," or similar words or phrases. These statements are based on Solera's and the Issuers' current expectations, estimates and assumptions and are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent to transactions of this nature, including, without limitation: whether or not the Issuers complete the proposed offering on terms currently contemplated or otherwise. Solera and the Issuers are under no obligation to (and specifically disclaim any such obligation to) update or alter these forward-looking statements whether as a result of new information, future events or otherwise.
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SOURCE Solera Holdings, Inc.