Lear borrows $1 billion portion of revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, March 26 – Lear Corp. drew down $1 billion under its $1.75 billion revolving credit facility on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

The company has remaining availability of $750 million under the revolver, which matures on Aug. 8, 2024.

Lear said pandemics, such as the Covid-19 outbreak, have disrupted, and may continue to disrupt, automotive industry customer sales and production volumes.

Lear is an automotive technology company based in Southfield, Mich.

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