Lear to offer senior notes, buy back more shares
Jan 14 (Reuters) - Auto parts maker Lear Corp plans to offer senior notes and establish a new credit facility, increasing its liquidity by $1 billion.
The company also boosted its share repurchase program by $800 million to $1.5 billion, saying its shares were undervalued.
Lear, which reaffirmed its 2012 forecast, said it expects 2013 sales of $15 billion to $15.5 billion.
Analysts were expecting $15.02 billion, according to Thomson Reuters I/B/E/S.
- Mexican train derails, stranding 1,300 migrants headed toward U.S.
- Gaza toll nears 100, militants threaten Israeli airport |
- Ukraine says rebels will pay as missiles kill 23 soldiers |
- A game of two popes: Vatican plays down talk of World Cup rivalry
- Haskell collapses in Texas court as details of murder read