Visteon has raised $500 million in a sale of senior notes in the 144a private placement market. The notes carry a coupon rate of 6.750% and are due to mature on April 15, 2019.
The company intends to use the net proceeds to retire its $500 million senior secured term loan due 2017 and pay related fees and expenses. The global automotive supplier appointed Citigroup, Morgan Stanley and Bank of America Merrill Lynch as the joint bookrunning managers for the deal, adds Reuters.
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