US: TRW secures new credit arrangements

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TRW Automotive Holdings has raised US$400m of new term loans of which $225m matures on 30 May, 2015 and $175m matures on 30 May, 2016, both subject to certain conditions. Proceeds from the new loans, together with cash on hand, were used to repay the outstanding balances of previously existing term loans, which had earlier maturities than the newly issued term loans. Full story...