VAN BUREN TOWNSHIP, Mich., March 16, 2007 /PRNewswire-FirstCall/ -- Visteon Corporation 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.
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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.
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