Solera to pay down non-extended term loan with notes proceeds

By Sara Rosenberg

New York, April 10 - Solera plans on repaying non-extended term loan borrowings with proceeds from a $400 million add-on 6¾% senior notes offering that was upsized from $300 million, according to a market source.

Remaining proceeds will be used for general corporate purposes.

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

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