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Ford Motor Co. Message Board

  • gomek_didnot_wear_plaid gomek_didnot_wear_plaid Sep 16, 2009 11:15 AM Flag

    New Ford Bond issue -- A Blowout!

    Yield on latest issue is 9.125%, down from 10.875% in July. This reads like a strong vote of confidence in Ford's future to me. The following is from a Dow Jones story from my Schwab account -- I have not seen it on the Yahoo headlines yet.

    <<Ford Motor wasn't immediately available to comment on the bond sale, but James Lee, senior fixed-income analyst at Calvert Asset Management, said the deal "looks like a blowout".

    The latest deal marks the third time that Ford Motor has tapped the junk bond market in 2009, having raised $2.85 billion from its two previous forays into the market this year, according to data provider Dealogic. It was last in the market at the end of July when it sold $1.75 billion of 7.5% three-year bonds to yield 10.875%.>>

    Gomek

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