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VISTEON CORP FILES (8-K) Disclosing Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

June 24, 2014



Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On June 23, 2014, Visteon Corporation (the "Company") drew the $600 million secured term loan under its Credit Agreement, dated as of April 9, 2014 (the "Credit Agreement'), among the Company, as borrower, each lender from time to time party thereto, each L/C Issuer (as defined in the Credit Agreement) from time to time party thereto, and Citibank, N.A. as administrative agent. This borrowing bears interest at a rate per annum of 275 basis points over LIBOR subject to a 75 basis point LIBOR floor which was in effect at date of borrowing. The Company is required to repay quarterly 0.25% of the term loan drawn, with the balance due April 9, 2021.

The material terms of the Credit Agreement are described in the Company's Current Reports on Form 8-K dated April 14, 2014.

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Source: Edgar Glimpses


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