Ford Credit sells $1.4 bln floating-rate notes

Newswire

NEW YORK, Sept 21 (Reuters) - Ford Motor Credit Co., the finance arm of Ford Motor Co. , sold $1.4 billion of three-year floating-rate notes on Tuesday, a joint lead manager on the deal said. The medium-term notes were priced at par to yield 0.83 percentage point over the three-month London interbank offered rate. The size of the deal was increased from an originally planned $1 billion. Moody's Investors Service rates Ford Credit "A3," while Standard & Poor's rates the Ford unit "BBB-".

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