Visteon Seeks to Amend Secured Term Loan
March 16 2007 - 6:32PM
PR Newswire (US)
VAN BUREN TOWNSHIP, Mich., March 16, 2007 /PRNewswire-FirstCall/ --
Visteon Corporation (NYSE:VC) announced it is seeking to amend its
existing $1 billion seven-year secured term loan that expires in
June 2013 to add a new tranche expiring December 2013 by up to $500
million. (Logo:
http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO ) Visteon
previously stated it would consider further enhancing its liquidity
if market conditions were favorable. 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 anticipates completing the transaction in the second
quarter of 2007. 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
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, ,
or Investors, Derek Fiebig, +1-734-710-5800, , both of Visteon
Corporation Web site: http://www.visteon.com/
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