New Issue: Ford Motor Credit prices $1 billion of three-year fixed- and floating-rate notes

By Cristal Cody

Eureka Springs, Ark., Aug. 8 – Ford Motor Credit Co. LLC priced $1 billion of three-year fixed- and floating-rate notes in two parts on Monday, according to a FWP filing with the Securities and Exchange Commission.

The company sold $700 million of 1.897% notes due Aug. 12, 2019 at par to yield a spread of 105 basis points over Treasuries.

In the second tranche, Ford Motor Credit sold of $300 million of three-year floating-rate notes at par to yield Libor plus 83 bps.

The bookrunners were Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Goldman, Sachs & Co., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and SG Americas Securities, LLC.

Proceeds will be added to the company’s general funds.

Ford Motor Credit is the financing arm of Dearborn, Mich.-based Ford Motor Co.

Issuer:	Ford Motor Credit Co. LLC
Amount:	$1 billion
Description:	Notes
Bookrunners:	Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Goldman, Sachs & Co., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and SG Americas Securities, LLC
Co-managers:	BNY Mellon Capital Markets, LLC, Scotia Capital (USA) Inc. and U.S. Bancorp Investments, Inc.
Trade date:	Aug. 8
Settlement date:	Aug. 12
Ratings:	Moody’s: Baa2
	Standard & Poor’s: BBB
	Fitch: BBB
Distribution:	SEC registered
Three-year notes
Amount:	$700 million
Maturity:	Aug. 12, 2019
Coupon:	1.897%
Price:	Par
Yield:	1.897%
Spread:	Treasuries plus 105 bps
Three-year floaters
Amount:	$300 million
Maturity:	Aug. 12, 2019
Coupon:	Libor plus 83 bps
Price:	Par

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.