Asurion readies launch of $3.57 billion credit facility for Thursday

By Sara Rosenberg

New York, May 10 - Asurion is scheduled to hold a call on Thursday to launch a proposed $3.57 billion credit facility, according to a market source.

Bank of America Merrill Lynch, Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. Inc., Goldman Sachs & Co. and Deutsche Bank Securities Inc. are the lead banks on the deal.

The facility consists of a $100 million five-year revolver, a $2.48 billion seven-year first-lien term loan B and a $990 million eight-year second-lien term loan, the source said.

Proceeds will be used to refinance existing debt.

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

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