UPDATE 1-Visteon seeks court OK for $700 mln exit financing


* Morgan Stanley lead arranger for financing * Says rights offering oversubscribed Aug 26 (Reuters) - Bankrupt U.S. auto parts supplier Visteon Corp has sought court approval for $700 million in exit financing, court documents show. The company said it solicited proposals from 13 institutions before selecting Morgan Stanley as the lead arranger and administrative agent for the financing. The exit facility will consist of $200 million in asset-based revolving credit and a $500 million ...

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