By Cristal Cody
Tupelo, Miss., March 20 – Ford Motor Credit Co. LLC (Baa2/BBB/BBB) priced a $550 million reopening of its floating-rate notes due April 5, 2021 on Tuesday at par to yield Libor plus 81 basis points, according to an FWP filing with the Securities and Exchange Commission.
Goldman Sachs & Co. LLC was the bookrunner.
The notes previously were issued in a $250 million offering on March 5 at par to yield Libor plus 81 bps. The total outstanding now is $800 million.
Ford Motor Credit is the financing arm of Dearborn, Mich.-based automaker Ford Motor Co.
Issuer: | Ford Motor Credit Co. LLC
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Amount: | $550 million reopening
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Description: | Floating-rate notes
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Maturity: | April 5, 2021
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Bookrunner: | Goldman Sachs & Co. LLC
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Coupon: | Libor plus 81 bps
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Price: | Par
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Yield: | Libor plus 81 bps
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Call feature: | None
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Trade date: | March 20
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Settlement date: | March 23
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Ratings: | Moody’s: Baa2
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| S&P: BBB
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| Fitch: BBB
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Distribution: | SEC registered
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Total outstanding: | $800 million, including $250 million of notes issued March 5 at par to yield Libor plus 81 bps
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