Electric Vehicles
Ford Taps Green Bond Market to Fund EV Development
- The vehicle maker issued 10-year unsecured green notes
- Debt offering to fund clean transportation will yield 6.1%
Photographer: Angel Navarrete/Bloomberg
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Ford Motor Co. is taking advantage of a credit-market rally to sell green bonds.
The vehicle maker sold $1.75 billion of debt expected to mature in 10 years, according to a person familiar with the matter. The security will yield 6.1% after early pricing discussions of around 6.375%, the person said. That compares to an average yield of 5.97% for debt in the BB tier.