Ford bonds rise on car loan portfolio sale

Newswire

LONDON, Nov 20 (Reuters) - Bonds from the world's second largest carmaker, Ford , rose sharply in Europe on Wednesday afer the firm said it plans to sell $3.0 billion of its U.S. car loans to the investment bank Bear Stearns . Ford's six percent euro bond due February 2005 was yielding 325 basis points over government debt by 0925 GMT -- around 12 basis points less on the day. Bond yields fall as prices rise. Ford is selling the loans, which were advanced to customers by its Ford Motor ...

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