Icahn reports purchase of Lear notes, equity swaps expire

By Lisa Kerner

Charlotte, N.C., Aug. 1 - Lear Corp. investor Icahn Capital LP and its affiliates reported the acquisition on July 16 and July 22 of $13.75 million principal amount of the company's 8½% senior notes due 2013.

Meanwhile on July 31, all of Icahn's cash-settled equity swap agreements expired in accordance with their terms, a schedule 13D filed with the Securities and Exchange Commission said.

As a result, the reporting investors no longer have economic exposure to any shares through equity swaps, according to the filing.

Lear is an automotive interior systems and components supplier located in Southfield, Mich.

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