Ford Motor Credit sells one bln euro FRN

Newswire

LONDON, July 24 (Reuters) - Ford Motor Credit Co sold a one billion euro floating rate note due January 2006, paying a coupon of 175 basis points above three month Euribor, the lead managers said on Thursday. Bank of America Securities Ltd, Dresdner Kleinwort Wasserstein and Lehman Brothers said the deal's issue and reoffer price is 99.651 percent. Ford Motor Credit is rated A3 by Moody's Investors Service and BBB by Standard & Poor's Rating Services.

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