Asurion Calls Off $4.5B Loan Refinancing

U.S. wireless handset insurance and wireless roadside assistance programs provider,Asurion, has withdrawn its loan refinancing worth $4.5 billion,Reutersreports. The new credit line was to include a $120 million revolving credit, a $3.5 billion seven-year term loan B and a $1.02 billion eight-year second-lien loans.

The transaction was led byBarclays,Credit Suisse,Morgan StanleyandGoldman Sachs. In 2007, Asurion has secured a $2.43 billion loan to back its buyout by a consortium of private equity firms fromDST Systems.

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