DALLAS, April 10, 2012 /PRNewswire/ --Solera Holdings, Inc. ("Solera") (NYSE: SLH) announced today that its indirect wholly-owned subsidiary, Audatex North America, Inc. ("Audatex") has priced and increased the amount of a private offering to $400 million aggregate principal amount of 6.75% senior notes due 2018 (the "Notes"). Solera anticipates that the closing of the offering will take place on or about April 13, 2012, subject to customary closing conditions and the concurrent closing of our amended and restated credit agreement. The Notes are priced at 102.72% of their principal amount plus accrued interest from December 15, 2011 and will be guaranteed by Solera and all of Solera's domestic subsidiaries (other than Audatex and two immaterial domestic subsidiaries).
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 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.
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