Ford Motor Credit Sells $1.25 Billion of Seven-Year Securities
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Ford Motor Credit Co., the finance arm of the second-largest U.S. automaker, sold $1.25 billion of seven-year senior unsecured notes as its parent company works to achieve an investment-grade credit rating.
The unit of Ford Motor Co. issued the debt at a 5 percent yield, or 2.29 basis points more than comparably dated U.S. Treasuries, according to data compiled by Bloomberg. That coupon was the second-lowest on a junk bond this year, trailing a three-year note from Ally Financial Inc., according to data compiled by Bloomberg.