UPDATE 3-Lear to borrow $800 mln; restructures Europe unit

Newswire

(Recasts, adds bylines, analyst comments, background; updates stock action) By Ben Klayman and David Bailey CHICAGO, March 29 (Reuters) - Lear Corp. said on Wednesday it secured $800 million in new loans, cheering investors who had worried about a liquidity crunch at the troubled auto parts maker and sending its shares up 11 percent. The company also said it will shift most of its European interior products business to a venture backed by billionaire financier Wilbur Ross in exchange ...

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