Visteon Corporation Prices Offering of Notes

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.

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.

600450 Visteon Corporation Prices Offering of Notes
Date: 5 March 2004
Source: Visteon

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