Solera to pay down revolver drawings with some notes proceeds

By Sara Rosenberg

New York, Aug. 16 – Solera LLC plans to repay borrowings under its revolving credit facility using a portion of the proceeds from a $275 million senior unsecured notes offering, according to a market source.

Remaining net proceeds from the notes will be used for general corporate purposes, including continuing to actively seek, evaluate and potentially pursue strategic initiatives.

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

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