VISTEON CORP (VC): debt financing — Visteon refinances with $400M revolver and $300M term loan, maturity 2031

VISTEON CORP

New $400M revolving credit facility and $300M term loan A facility; both mature on April 27, 2031.
Term loan amortizes at 5% annually starting Sept 30, 2026; interest margins range from 1.00%-1.75% (SOFR).
Bank of America replaces Citibank as administrative agent; covenants include max net leverage of 3.50x (4.00x after acquisitions).
Up to $75M available for letters of credit and $40M for swingline; sustainability-linked pricing adjustment up to 0.05%.
Additional flexibility added to certain covenants; refinancing replaces prior facilities.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

VISTEON CORP incurred credit facility of $400,000,000 with Bank of America, N.A. at Base Rate plus an applicable margin ranging from 0.00% to 0.75% or SOFR Rate plu maturing April 27, 2031.

Instrument: credit facility
Principal: $400,000,000
Counterparty: Bank of America, N.A.
Rate: Base Rate plus an applicable margin ranging from 0.00% to 0.75% or SOFR Rate plu
Maturity: April 27, 2031
Event: incurrence

Exact text from the filing

The Amendment provides for, among other things, (i) the replacement and extension of the existing revolving credit facility with a new revolving credit facility (the “Refinancing Revolving Facility” and any loans made pursuant thereto, “New Revolving Credit Loans”) in an aggregate principal amount of $400,000,000, (ii) the refinancing of the Term Loans (as defined in the Existing Credit Agreement) with a new term loan “A” facility (the “Refinancing Term Facility” and, together with the Refinancing Revolving Facility, the “Refinancing Facilities”; the loans made pursuant to the Refinancing Term Facility, the “New Term Loans” and together with the New Revolving Credit Loans, the “New Loans”) in an aggregate principal amount of $300,000,000

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

VISTEON CORP incurred term loan of $300,000,000 with Bank of America, N.A. at Base Rate plus an applicable margin ranging from 0.00% to 0.75% or SOFR Rate plu maturing April 27, 2031.

Instrument: term loan
Principal: $300,000,000
Counterparty: Bank of America, N.A.
Rate: Base Rate plus an applicable margin ranging from 0.00% to 0.75% or SOFR Rate plu
Maturity: April 27, 2031
Event: incurrence

Exact text from the filing

(ii) the refinancing of the Term Loans (as defined in the Existing Credit Agreement) with a new term loan “A” facility (the “Refinancing Term Facility” and, together with the Refinancing Revolving Facility, the “Refinancing Facilities”; the loans made pursuant to the Refinancing Term Facility, the “New Term Loans” and together with the New Revolving Credit Loans, the “New Loans”) in an aggregate principal amount of $300,000,000

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VISTEON CORP amended Amendment No. 8 to Credit Agreement & Agency Transfer Agreement with Citibank, N.A., as the former administrative agent, Bank of America, N.A., as successor administrative agent, certain subsidiaries of the Company as guarantors, and certain lenders and issuing banks valued at $400,000,000 (effective 2026-04-27).

Action: amendment
Agreement: credit facility
Counterparty: Citibank, N.A., as the former administrative agent, Bank of America, N.A., as successor administrative agent, certain subsidiaries of the Company as guarantors, and certain lenders and issuing banks
Value: $400,000,000
Effective: 2026-04-27

Exact text from the filing

On April 27, 2026, Visteon Corporation (the “Company”) entered into Amendment No. 8 to Credit Agreement & Agency Transfer Agreement (the “Amendment”) to its credit agreement, dated as of April 9, 2014

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Source: SEC EDGAR

accession 0001111335-26-000025

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