Ford Foundation markets $280 million 30-year taxable bonds via Wells Fargo, Citigroup

By Cristal Cody

Tupelo, Miss., March 8 – The Ford Foundation is expected to price $280 million of 30-year 3(a)4 exempt taxable bullet bonds in an offering on March 14, according to a market source.

The series 2017 bonds (Aaa) are due June 1, 2047.

Wells Fargo Securities LLC and Citigroup Global Markets Inc. are the lead managers.

Proceeds will be used to fund the renovation of the headquarters building and related costs and payment of swap termination fees.

Ford Foundation is a New York City-based private foundation formed with bequests by Edsel and Henry Ford that seeks to reduce poverty and injustice, strengthen democratic values, promote international cooperation and advance human achievement.

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