Visteon Corporation Prices Offering of Notes
March 03 2004 - 6:51PM
PR Newswire (US)
Visteon Corporation Prices Offering of Notes DEARBORN, Mich., March
3 /PRNewswire-FirstCall/ -- Visteon Corporation today announced the
pricing of $450 million notes due 2014. The offering of notes is
expected to close on March 10, 2004 and is subject to various terms
and conditions. The notes will be issued at a public offering price
of 99.957 percent of par and bear interest at a rate of 7.00
percent per year, payable semi-annually on each March 10 and
September 10 until maturity on March 10, 2014. J.P. Morgan
Securities Inc. and Citigroup are acting as the managing
underwriters for the offering. (Logo:
http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO ) The net
proceeds of the offering of the notes are currently anticipated to
be used to repurchase a portion of Visteon's existing 7.95 percent
notes due 2005 pursuant to a previously announced tender offer, to
pay fees and expenses related to the tender offer and for working
capital and other general corporate purposes. The offering is being
made pursuant to Visteon's effective shelf registration statement
previously filed with and declared effective by the Securities and
Exchange Commission. This press release does not constitute an
offer to sell, or the solicitation of an offer to buy, nor shall
there be any sale of the notes in any jurisdiction in which such
offer, solicitation of sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction. The offering may only be made by means of a
prospectus and a related prospectus supplement, copies of which may
be obtained when available from J.P. Morgan Securities Inc. at 270
Park Avenue, New York NY 10017 or Citigroup Global Markets Inc., at
390 Greenwich Street, New York, NY 10013. Visteon Corporation is a
leading full-service supplier that delivers consumer-driven
technology solutions to automotive manufacturers worldwide and
through multiple channels within the global automotive aftermarket.
Visteon has approximately 72,000 employees and a global delivery
system of more than 180 technical, manufacturing, sales and service
facilities located in 25 countries. This press release contains
forward-looking statements made pursuant to the Private Securities
Litigation Reform Act of 1995. Words such as "anticipate,"
"estimate," "expect," and "projects" signify forward-looking
statements. Forward-looking statements are not guarantees of future
results and conditions but rather are subject to various risks and
uncertainties. These risks and uncertainties include, but are not
limited to, a risk that a sale of our notes might not be completed
and other risks, relevant factors and uncertainties identified in
our periodic filings with the Securities and Exchange Commission.
Should any risks or uncertainties develop into actual events, these
developments could have material adverse effects on Visteon's
business, financial condition, and results of operations. We assume
no obligation to update these forward-looking statements. Visteon
news releases, photographs and product specification details are
available at http://www.visteon.com/
http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO DATASOURCE:
Visteon Corporation CONTACT: Media: Kimberly A. Welch,
+1-313-755-3537, , or Jim Fisher, +1-313-755-0635, , Investor
Inquiries: Derek Fiebig, +1-313-755-3699, , all of Visteon
Corporation Web site: http://www.visteon.com/
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