Asurion to launch $1.15 billion in term loans on Wednesday morning

By Sara Rosenberg

New York, July 21 – Asurion LLC is scheduled to hold a lender call at 10:30 a.m. ET on Wednesday to launch $1.15 billion in term loans, according to a market source.

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

The debt consists of a $700 million seven-year first-lien term loan and a fungible $450 million add-on second-lien term loan, the source said.

Proceeds will be used to refinance an existing $250 million term loan and for general corporate purposes, including buying minority equity.

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

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