UPDATE 3-Ford plans to secure $18 bln in financing

Newswire

(Adds North American losses in second paragraph) By Walden Siew and Poornima Gupta NEW YORK/DETROIT, Nov 27 (Reuters) - Ford Motor Co. said on Monday it plans to borrow $18 billion by pledging assets as collateral for loans, an unprecedented requirement that highlights its worsening financial condition. The deal is expected to finance Ford's efforts to rescue a North American operation that has lost $12.39 billion before taxes and including special items since January 2005. The new ...

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