Visteon Raises $500 Million Through Amended Secured Term Loan
April 10 2007 - 5:40PM
PR Newswire (US)
VAN BUREN TOWNSHIP, Mich., April 10, 2007 /PRNewswire-FirstCall/ --
Visteon Corporation (NYSE:VC) announced it has added an incremental
$500 million tranche to an existing term loan facility, enhancing
its liquidity as it continues to make solid progress with its
multi-year improvement plan. (Logo:
http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO ) Taking
advantage of favorable market conditions, Visteon amended an
existing $1 billion seven-year secured term loan that expires in
June 2013. The new tranche expires in December 2013, bringing the
total amount of Visteon's term loan to $1.5 billion. J.P. Morgan
Securities Inc. and Citigroup Global Markets Inc. acted as lead
arrangers for this transaction; JPMorgan Chase Bank, N.A. is the
administrative agent. Visteon Corporation is a leading global
automotive supplier that designs, engineers and manufactures
innovative climate, interior, electronic and lighting products for
vehicle manufacturers, and also provides a range of products and
services to aftermarket customers. With corporate offices in Van
Buren Township, Mich. (U.S.); Shanghai, China; and Kerpen, Germany;
the company has facilities in 26 countries and employs
approximately 45,000 people.
http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO DATASOURCE:
Visteon Corporation CONTACT: Media: Jim Fisher, +1-734-710-5557, ,
Investors: Derek Fiebig, +1-734-710-5800, , both of Visteon
Corporation Web site: http://www.visteon.com/
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