Visteon 2010 bonds rise after debt exchange offer

Newswire

NEW YORK, May 20 (Reuters) - Bonds of Visteon Corp rose on Tuesday, after the auto supplier late on Monday offered to exchange its shorter-dated debt for bonds with a longer maturity and a higher coupon. Visteon offered to tender for up to $344 million of its 8.25 percent bonds due 2010 in exchange for new notes maturing in 2016, with a 12.25 percent coupon. The 2010 bonds rose 4.5 cents to 96 cents on the dollar, according to MarketAxess. Companies including mortgage lender ...

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