Solera readies launch of term loan extension proposal for Thursday

By Sara Rosenberg

New York, March 28 - Solera is scheduled to hold a lender call at 10 a.m. ET on Thursday to launch an extension of its term loans to May 2017 from May 2014, according to a market source.

The company is looking to get an up to $211 million and up to €251 million extended term loan B, the source said.

Pricing on the extended term loan is talked at Libor plus 300 basis points, up from Libor plus 175 bps on the non-extended debt. There is no Libor floor.

Lenders are being offered a 10 bps amendment fee and 15 bps extension fee, the source added.

The borrowers under the loans are Audatex North America Inc., Solera Nederland Holding BV and Audatex Holdings IV BV.

J.P. Morgan Securities LLC is the lead bank on the deal.

Solera is a Westlake, Texas-based provider of software services to the auto insurance claims processing industry.

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