Visteon repurchases $150 million 8¼% notes due 2010

By Laura Lutz

Des Moines, Aug. 1 - Visteon Corp. bought back $150 million of its 8¼% notes due 2010 in the second quarter, according to a company release.

Visteon recorded a gain of $8 million in the repurchase, which it used to offset expense associated with debt issuance costs related to the company's extinguished credit facilities.

Visteon funded the repurchase with proceeds from closing a seven-year $800 million secured term loan.

Visteon, based in Van Buren Township, Mich., is an automotive supplier that provides products for both vehicle manufacturers and after-market consumers.

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