VC Visteon Corporation

VAN BUREN TOWNSHIP, Mich., Nov. 15 /PRNewswire-FirstCall/ -- Visteon Corporation (NYSE:VC) today announced that it is seeking an additional $100 million to $200 million in secured term loans under its existing $800 million seven-year secured term loan that expires in June 2013. This action will further enhance Visteon's liquidity as it executes its three-year plan, and allows the company to take advantage of strong financial market conditions. (Logo: http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO ) Under provisions of the seven-year secured term loan, Visteon can increase the term loan by as much as $100 million. Should the company choose to raise an amount greater than $100 million, it will seek required lender approvals under the term loan and the company's $350 million U.S. asset-based revolving credit facility. "Given the current strength of market conditions, we believe it is a prudent time to further enhance the liquidity of Visteon as we implement our three-year plan," said James F. Palmer, executive vice president and chief financial officer. J.P. Morgan Securities Inc. and Citigroup Global Markets, Inc. will act as lead arrangers for this transaction; JPMorgan Chase Bank, N.A. is the administrative agent. Visteon expects to complete this transaction in 2006. Completion of the transaction is subject to final documentation and other conditions, and there is no assurance regarding timing or successful completion of the transaction. 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 more than 170 facilities in 26 countries and employs about 46,000 people. http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO DATASOURCE: Visteon Corporation CONTACT: Media Inquiries: Jim Fisher, +1-734-710-5557, , Investor Inquiries: Derek Fiebig, +1-734-710-5800, , both of Visteon Corporation Web site: http://www.visteon.com/

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