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Solera’s Audatex to repay $200 million loan debt with note offering
By Wendy Van Sickle
Columbus, Ohio, July 13 – Solera Holdings, Inc.’s wholly owned subsidiary Audatex North America, Inc. will repay all $200 million outstanding under its senior unsecured interim credit facility and related fees with some proceeds from its planned issue of senior notes, according to a press release.
The company entered into the facility on June 2 in connection with its acquisition of DMEautomotive, LLC.
Audatex will also use proceeds from the $850 million note offering to purchase the equity interests in its Service Repair Solutions joint venture from its joint venture partner, according to the release.
The notes will include 6 1/8% senior notes due 2023 as an add on to deals sold in 2013 and 2014 and new senior notes due 2025.
Solera is a Westlake, Texas-based provider of software and services to the automobile insurance claims processing industry.
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