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Published on 6/1/2007 in the Prospect News Bank Loan Daily.

Asurion to launch $2.435 billion credit facility on Thursday

By Sara Rosenberg

New York, June 1 - Asurion Corp. is scheduled to hold a bank meeting on Thursday to launch its proposed $2.435 billion credit facility, according to a market source.

Merrill Lynch, Bank of America and Lehman Brothers are the lead banks on the deal.

The facility consists of a $100 million revolver, a $1.755 billion first-lien term loan and a $580 million second-lien PIK toggle term loan, the source said.

Proceeds will be used to help fund the acquisition of a majority stake in the company by Madison Dearborn Partners, Providence Equity Partners and Welsh, Carson, Anderson & Stowe.

Asurion is a Nashville, Tenn., provider of enhanced services to the wireless telecommunication industry.


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