TRW to refinance $2.5B credit facility |
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Published
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Tue, 10 Apr 2007 20:47
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LIVONIA, Mich. (AP) - Auto parts maker TRW Automotive Holdings Corp. said Tuesday it will refinance its $2.5 billion credit facilities with new arrangement of roughly the same amount.The new credit facilities will consist of a $1.4 billion revolving credit facility, a $600 million term loan A facility and a $500 million term loan B facility. The company expects to close the transaction during the second quarter of 2007.J.P. Morgan Securities Inc. and Banc of America Securities LLC are arranging the financing.Shares of TRW Automotive Holdings Corp. fell 11 cents to $35.90 in midday trading on the New York Stock Exchange, but earlier traded at a new 52-week high of $36.16. The stock's previous peak of $36.02 was set Monday.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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