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Visteon prepares $700 million exit loan, Reuters reports
Friday, August 27, 2010
Reuters reports that Visteon has asked its bankruptcy court for approval of a $700 million exit loan, citing court documents. It says Morgan Stanley will be the lead arranger and agent bank for the package, which will comprise a $200 million revolver and a $500 million term loan. The car part maker’s exit loan is likely to be snapped up by CLOs and other loan investors who have shown strong recent appetite for bankruptcy exit financings.
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Structured
Issuers
CFlux secondary
CLO index levels:
| Index | 21 May |
|
| CFlux USD AAA | ↑ | 96.2 |
| CFlux USD AA | ↑ |
88.3 |
| CFlux USD A | ↓ | 84.1 |
| CFlux USD BBB | ↓ | 75.3 |
| CFlux USD BB | ↓ |
74.1 |
| CFlux USD EQ | ↑ | 77.5 |
