Solera sets Thursday launch for $657.5 million credit facility

By Sara Rosenberg

New York, April 12 - Solera Holdings LLC has scheduled a bank meeting for Thursday afternoon to launch its proposed $657.5 million amended and restated senior credit facility (B1/B+), according to a market source.

Goldman Sachs and Citigroup are the joint bookrunners on the deal, with Goldman the lead arranger.

The facility consists of an existing $50 million revolver and a new $607.5 million term loan B that will be divided into a U.S. and a euro tranche, the source said.

Proceeds will be used to refinance existing debt, including a $240 million term loan B, a €220 million term loan B, a €165 million second-lien term loan and an €80 million mezzanine financing.

The facility is linked to its initial public offering of common stock.

Solera is a San Ramon, Calif., provider of software and services to the automobile insurance claims processing industry.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.