Visteon draws $600 million secured term loan under credit agreement

By Tali Rackner

Norfolk, Va., June 24 – Visteon Corp. drew the $600 million secured term loan under its credit agreement on Monday, according to an 8-K filing with the Securities and Exchange Commission.

Citibank, NA is the administrative agent.

Borrowings bear interest at Libor plus 275 basis points with a 2.75% Libor floor.

Visteon is required to repay quarterly 0.25% of the term loan drawn, with the balance due April 9, 2021.

Visteon is a Van Buren Township, Mich.-based automotive supplier.

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