Senior Editor
Ford Motor Credit?has reason to celebrate after?its first investment-grade bond offering?in almost seven years.?Investor interest in the bond allowed the company to sell favorably?priced debt that exceeded initial expectations.
According to one banker who worked on the deal, Ford?s five-year, $1.5 billion offering was initially expected to price at a spread to Treasurys of 262.5 basis points, but finally achieved a 230 basis point spread, with a 3% interest rate, as demand from investors mounted.
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