Visteon Corporation Announces Current Tenders Under its Offer to Purchase 7.95% Notes Due 2005
March 15 2004 - 11:51AM
PR Newswire (US)
Visteon Corporation Announces Current Tenders Under its Offer to
Purchase 7.95% Notes Due 2005 DEARBORN, Mich., March 15
/PRNewswire-FirstCall/ -- Visteon Corporation today announced that
holders of $315,502,000 aggregate principal amount of its
$500,000,000 aggregate principal amount of its 7.95% Notes due 2005
have tendered, and not withdrawn, their notes prior to 5:00 p.m.,
New York City time, on Friday, March 12, 2004. Holders who tendered
on or prior to the early tender deadline will receive the total
consideration, which includes an early tender premium. The tender
offer will expire at 5:00 p.m., New York City time, on Friday,
April 2, 2004, unless extended or earlier terminated. (Logo:
http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO ) Visteon
will accept Notes for purchase on a pro rata basis based on the
principal amount of Notes tendered. Payment for tendered Notes will
be made in same day funds on the second business day after the
expiration of the offer, or as soon aspracticable thereafter. The
tender offer is conditioned upon the satisfaction of certain
conditions. If any of the conditions are not satisfied, Visteon is
not obligated to accept for payment, purchase or pay for, and may
delay the acceptance for payment of, any tendered Notes, and may
even terminate the tender offer. Full details of the terms and
conditions of the tender offer are included in the company's Offer
to Purchase dated March 1, 2004. Citigroup and J.P. Morgan
Securities Inc. are Dealer Managers for the tender offer. Requests
for documents may be directed to Global Bondholder Services
Corporation, the Information Agent, at (212) 430-3774 or (866)
470-3900. This press release is neither an offer to purchase nor a
solicitation of an offer to sell the Notes or any other security.
The offers are made only by an Offer to Purchase dated March 1,
2004. Persons with questions regarding the offer should contact the
Dealer Managers: (i) Citigroup, toll-free at 1-800-558-3745, or
(ii) J.P. Morgan Securities Inc., toll-free at 1-866-834-4851.
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 200 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. Some of
these risks and uncertainties are 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.
http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO DATASOURCE:
Visteon Corporation CONTACT: Media Inquiries: Kimberly A. Welch,
+1-313-755-3537, , Jim Fisher, +1-313-755-0635, , Investor
Inquiries: Derek Fiebig, +1-313-755-3699, , all of Visteon
Corporation Web site: http://www.visteon.com/
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