Solera modifies $300 million add-on term loan B OID to 99.75

By Sara Rosenberg

New York, Feb. 8 – Solera Holdings LLC revised the original issue discount on its fungible $300 million add-on term loan B due June 2028 to 99.75 from talk in the range of 99 to 99.5, according to a market source.

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

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

Recommitments were scheduled to be due at 1 p.m. ET on Tuesday, the source added.

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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