ArvinMeritor sets $1.15 bln of sr secured debt

Newswire

CHICAGO, June 23 (Reuters) - Auto and truck parts maker ArvinMeritor Inc. said on Friday it has entered into two new senior secured credit facilities totaling $1.15 billion to extend maturities and increase liquidity. The $980 million revolving credit maturing in 2011 and a $170 million term loan due in 2012 replaced a prior facility, the Troy, Michigan-based company said. JP Morgan Securities Inc. and Citigroup Global Markets Inc. arranged the facilities, ArvinMeritor said.

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