1
Visteon makes payment, avoids bankruptcy on Tue Mar 10, 2009 5:05 pm
Admin
Admin
Staving off a bankruptcy filing, Visteon Corp. today made a $16-million interest payment, one that analysts had widely expected the Van Buren Township supplier to skip and trigger a Chapter 11 bankruptcy filing.
The payment is for interest on about $450 million in bonds that mature in 2014.
Those bonds are trading at a small fraction of their original value. Automotive analysts had expected the supplier to not make the payment and instead shore up its cash for its operations or for a bankruptcy filing.
Read More
The payment is for interest on about $450 million in bonds that mature in 2014.
Those bonds are trading at a small fraction of their original value. Automotive analysts had expected the supplier to not make the payment and instead shore up its cash for its operations or for a bankruptcy filing.
Read More
