Asurion readies launch of $900 million term loan for Thursday

By Sara Rosenberg

New York, Oct. 4 - Asurion is scheduled to hold a bank meeting on Thursday to launch its proposed $900 million incremental first-lien term loan, according to a market source.

Barclays, Credit Suisse, Morgan Stanley and Goldman Sachs are the lead banks on the deal.

Early guidance on the term loan is rumored to be around Libor plus 450 basis points with a 1.5% Libor floor and an original issue discount of 99, the source said.

Proceeds will be used to fund a dividend.

Asurion is a Nashville, Tenn.-based provider of technology protection services.

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