Visteon borrows full $400 million under revolving facility

By Wendy Van Sickle

Columbus, Ohio, March 25 – Visteon Corp. borrowed the full $400 million under its revolving credit facility on March 19, according to an 8-K filing with the Securities and Exchange Commission.

The company said the borrowings will increase its cash position and maximize flexibility in light of the current uncertainty surrounding the impact of the Covid-19 pandemic.

Borrowings bear interest at Libor plus a current margin of 150 basis points.

Citibank, NA is the administrative agent of the credit agreement.

Visteon is an automotive supplier based in Van Buren Township, Mich.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.