Asurion Term Loan That Funded Dividend Rises After First Trades
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Asurion Corp.’s $1 billion unsecured term loan to fund a dividend payment rose in its first day of trading, according to data provider Markit Group Ltd.
The 7.5-year debt, sold to investors at 97 cents on the dollar, began trading today at 100.5 cents, Markit prices and data compiled by Bloomberg show. Morgan Stanley arranged the financing for the Nashville, Tennessee-based provider of wireless and handset insurance, Bloomberg data show.