Ford Motor Company (NYSE: F) has announced the pricing of their offering of senior convertible notes due November 15, 2016. The notes in the aggregate principal amount of $2.5 billion will be offered, an increase from the $2 billion previously announced. The notes will be senior unsecured obligations of Ford and will bear interest at a fixed rate of 4.25% per year. The underwriters have also been granted the option to purchase an additional $375 million in aggregate principal amount of notes. The notes will be convertible into shares of Ford common stock, cash or a combination of both, at Ford's election.
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About Ford Motor Company
Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 200,000 employees and about 90 plants worldwide, the company's automotive brands include Ford, Lincoln, Mercury and Volvo. The company provides financial services through Ford Motor Credit Company.
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