Visteon (NASDAQ:VC)
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Visteon Corporation Prices Offering of Notes
DEARBORN, Mich., March 3 /PRNewswire-FirstCall/ -- Visteon Corporation today
announced the pricing of $450 million notes due 2014. The offering of notes is
expected to close on March 10, 2004 and is subject to various terms and
conditions. The notes will be issued at a public offering price of 99.957
percent of par and bear interest at a rate of 7.00 percent per year, payable
semi-annually on each March 10 and September 10 until maturity on March 10,
2014. J.P. Morgan Securities Inc. and Citigroup are acting as the managing
underwriters for the offering.
(Logo: http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO )
The net proceeds of the offering of the notes are currently anticipated to be
used to repurchase a portion of Visteon's existing 7.95 percent notes due 2005
pursuant to a previously announced tender offer, to pay fees and expenses
related to the tender offer and for working capital and other general corporate
purposes. The offering is being made pursuant to Visteon's effective shelf
registration statement previously filed with and declared effective by the
Securities and Exchange Commission.
This press release does not constitute an offer to sell, or the solicitation of
an offer to buy, nor shall there be any sale of the notes in any jurisdiction in
which such offer, solicitation of sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction. The
offering may only be made by means of a prospectus and a related prospectus
supplement, copies of which may be obtained when available from J.P. Morgan
Securities Inc. at 270 Park Avenue, New York NY 10017 or Citigroup Global
Markets Inc., at 390 Greenwich Street, New York, NY 10013.
Visteon Corporation is a leading full-service supplier that delivers
consumer-driven technology solutions to automotive manufacturers worldwide and
through multiple channels within the global automotive aftermarket. Visteon has
approximately 72,000 employees and a global delivery system of more than 180
technical, manufacturing, sales and service facilities located in 25 countries.
This press release contains forward-looking statements made pursuant to the
Private Securities Litigation Reform Act of 1995. Words such as "anticipate,"
"estimate," "expect," and "projects" signify forward-looking statements.
Forward-looking statements are not guarantees of future results and conditions
but rather are subject to various risks and uncertainties. These risks and
uncertainties include, but are not limited to, a risk that a sale of our notes
might not be completed and other risks, relevant factors and uncertainties
identified in our periodic filings with the Securities and Exchange Commission.
Should any risks or uncertainties develop into actual events, these developments
could have material adverse effects on Visteon's business, financial condition,
and results of operations. We assume no obligation to update these
forward-looking statements.
Visteon news releases, photographs and product specification details are
available at http://www.visteon.com/
http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO
DATASOURCE: Visteon Corporation
CONTACT: Media: Kimberly A. Welch, +1-313-755-3537, ,
or Jim Fisher, +1-313-755-0635, , Investor Inquiries:
Derek Fiebig, +1-313-755-3699, , all of Visteon
Corporation
Web site: http://www.visteon.com/