Dec 20 (Reuters) - Car parts supplier Tower Automotive said it filed a $250 million restructuring term sheet that will form the basis of its efforts to emerge from bankruptcy.
Three significant bondholders have agreed to underwrite a $250 million equity rights offering, the company said in a statement.
Tower said under the term sheet, senior secured debt would be refinanced and paid in full. (Reporting by Saumyadeb Chakrabarty in Bangalore)