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Visteon Raises $500M In Debt Issue

Visteon has raised $500 million in a sale of senior notes in the 144a private placement market.

    Visteonhas 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 appointedCitigroup,Morgan StanleyandBank of America Merrill Lynchas the joint bookrunning managers for the deal, addsReuters.

    Click here for the release fromPR Newswire.

    Click here for additional coverage fromReuters.

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