Asurion ups original issue discount on $900 million term loan to 96

By Sara Rosenberg

New York, Oct. 19 - Asurion widened the original issue discount on its $900 million incremental first-lien term loan to 96 from 98 and changed call protection to 102 in year one and 101 in year two from just 101 in year one, according to sources.

Pricing on the loan is still Libor plus 525 basis points with 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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