Asurion launches $900 million term loan at Libor plus 450 bps

By Sara Rosenberg

New York, Oct. 7 - Asurion launched its $900 million incremental first-lien term loan on Thursday with price talk of Libor plus 450 basis points with a 1.5% Libor floor and an original issue discount of 99, according to a market source.

The talk came in line with the early guidance that was rumored around the market.

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

Proceeds will be used to fund a dividend.

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

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