Ford raises $1 billion with year’s first benchmark 10-year bond, according to Bloomberg.
Ford Motor Co. (F), the second-largest U.S. automaker, raised $1 billion in its first sale of benchmark 10-year bonds since September.
Ford Motor Credit’s 4.375 percent securities due August 2023 yield 178 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg. The notes are expected to be rated Baa3 by Moody’s Investors Service, according to a person with knowledge of the offering, who asked not to be identified citing lack of authorization to speak publicly about the matter.
The finance unit’s $1 billion of 4.25 percent debt due in September 2022 traded yesterday at 100.69 cents on the dollar to yield 4.16 percent, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.
