Solera to launch $300 million add-on term loan B on Wednesday

By Sara Rosenberg

New York, Feb. 1 – Solera Holdings LLC is set to hold a lender call at 11 a.m. ET on Wednesday to launch a fungible $300 million add-on term loan B due June 2028, according to a market source.

JPMorgan Chase Bank is the lead on the deal. Goldman Sachs is the administrative agent.

Pricing on the add-on term loan is Libor plus 400 basis points with a 0.5% Libor floor.

Original issue discount talk on the add-on term loan is 99 to 99.5, the source said.

Commitments are due at noon ET on Feb. 8.

Proceeds will be used to fund the acquisition of Spireon, a device-independent telematics and connected vehicle intelligence company, from Greenbriar Equity Fund.

Closing is expected this quarter, subject to customary conditions and regulatory approval.

Solera is a Westlake, Tex.-based provider of integrated vehicle lifecycle and fleet management software-as-a-service, data and services.

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