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Ford Motor (NYSE:F) Credit Company LLC, the financing arm of the automotive giant, has successfully issued £300 million in notes with a maturity date of April 30, 2030. These notes carry an interest rate of 5.780% and are part of the company's existing shelf registration, as detailed in a filing with the U.S. Securities and Exchange Commission (SEC) on Tuesday.
The notes were sold under Ford Motor Credit's Euro Medium-Term Notes program, which is registered with the SEC, allowing for the periodic offering of securities. The legal opinion regarding the issuance, provided by David J. Witten, an attorney for Ford Motor Credit, was included as an exhibit in the SEC filing.
The funds raised from this issuance are expected to be used for general corporate purposes, which may include refinancing of existing debt, financing of Ford's automotive business, and other funding activities that support the overall business strategy.
Ford Motor Credit's issuance of these notes reflects ongoing capital-raising activities in the corporate bond market, where companies seek to leverage favorable interest rates to secure long-term funding. The company's ability to issue debt at a competitive rate is indicative of investor confidence in the financial health and prospects of Ford Motor Credit.
Investors and stakeholders can find further details on the notes and their terms in the exhibits attached to the SEC filing. It is important to note that the information provided is based on the press release statement and the SEC filing by Ford Motor Credit Company LLC.
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