Solera talks $350 million seven-year notes with 6 7/8% area yield

By Paul A. Harris

Portland, Ore., June 9 - Solera Holdings, Inc. talked its $350 million offering of seven-year senior notes (Ba2/BB-/) with a yield in the 6 7/8% area on Thursday, according to an informed source.

The deal is set to price on Friday morning.

Goldman Sachs & Co. is the left bookrunner. Bank of America Merrill Lynch is the joint bookrunner.

The Rule 144A for life and Regulation S notes come with three years of call protection.

The issuing entity is Audatex North America, Inc., a wholly owned subsidiary of Solera.

Proceeds, together with cash on hand, will be used to finance the acquisition of Explore Information Services, LLC by Claims Services Group, Inc., a wholly owned subsidiary of Audatex.

Solera is a Dallas-based provider of software and services to the automobile insurance claims processing industry.

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