Solera Holdings sets price talk in $5.27 billion equivalent multi-tranche loan

By Paul A. Harris

Portland, Ore., May 18 – Solera Holdings Inc. set price talk for $5.27 billion equivalent of seven-year first-lien senior secured term loan paper coming in dollar, euro and sterling denominations, according to a market source.

A $3.38 billion tranche is talked at Libor plus 400 basis points to 425 bps with a 0.75% Libor floor.

A €1.2 billion tranche is talked with a 400 bps to 425 bps spread to Euribor with no Euribor floor.

A £300 million tranche is talked with a 525 bps spread to Sonia with no floor.

Price talk on all three tranches is 99.

All three tranches come with six months of soft call protection at 101.

All three will amortize at an annual rate of 1%.

Commitments are due June 2.

Goldman Sachs is leading the deal and is the left bookrunner for the dollar-denominated tranche. JPMorgan is the left bookrunner for the euro- and sterling-denominated tranches.

Barclays, BNP Paribas, Citigroup, Deutsche Bank, Guggenheim, HSBC, Nomura, Macquarie, Jefferies and KKR are joint bookrunners.

The Westlake, Tex.-based provider of risk and asset management software plans to use the proceeds to refinance debt and for general corporate purposes such as acquisitions.

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