Skip navigation
Newswire

FMCC ups planned three-year bond to 1.5 bln euros

LONDON, April 23 (Reuters) - Ford Motor Credit Company (FMCC), the finance arm of Ford Motor Co , has increased the size of its planned bond sale to 1.5 billion euros from 1.0 billion euros, bankers close to the deal said.

FMCC also plans to price the three-year bond to yield 260-263 basis points over the swaps curve, less than initial price guidance of 265-270 basis points over swaps, bankers said.

Credit Lyonnais, Deutsche Bank and UBS Warburg have been mandated to lead manage the issue, which is now likely to be launched on Wednesday.

FMCC last tapped the debt market in January with a 1.5 billion euro 6.75 percent bond due January 14, 2008.

FMCC is rated A3 by Moody's Investors Service, BBB by Standard & Poor's credit ratings agency and BBB+ by Fitch Ratings.