Ford Motor Credit $3 billion notes issues

Overview:

• Ford Motor Credit has undertaken a $3 billion notes issue.
• The issue consisted of $1 billion in floating rate notes due January 9 2020, $1.25 billion in 2.681% notes due January 9 2020 and $750 million in 3.810% notes due January 9 2024.
• The proceeds are going to be added to its general funds for the purchase of receivables, loans, and the retirement of debt.
• Barclays Capital, Credit Agricole Securities, Credit Suisse Securities, JPMorgan Securities, Mizuho Securities, RBC Capital Markets, and SMBC Nikko Securities America acted as joint bookrunning managers.
• BB Securities and UniCredit Capital Markets served as co-managers.
• Ford was represented by in-house counsel.

Kurt Stumpo - Journalist