(Bloomberg.com) — Ford Motor Co.’s finance arm sold $1.75 billion of five-year debt, taking advantage of investor demand for high-yield bonds, on pace for the longest rally since 1996.
Ford Motor Credit Co., the biggest issuer of speculative- grade securities last year and the only one of the three largest U.S. automakers to avoid bankruptcy, sold the notes with a 7 percent coupon. That’s the lowest fixed-rate yield Ford has paid on dollar bonds since June 2005, and compares with the 8.7 percent rate on similar notes sold in September, according to data compiled by Bloomberg.
Comment Disclaimer: Comments that contain profane or derogatory language, video links or exceed 200 words will require approval by a moderator before appearing in the comment section. XOXO-MN
