Asurion ups pricing on $900 million term loan to Libor plus 525 bps

By Sara Rosenberg

New York, Oct. 15 - Asurion increased pricing on its $900 million incremental first-lien term loan to Libor plus 525 basis points from Libor plus 450 bps, according to a market source.

In addition, the original issue discount was widened to 98 from 99 and 101 soft call protection for one year was added, the source said.

As before, the term loan includes a 1.5% Libor floor.

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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