US companies buy back loans as prices plunge

Newswire

By Karen Brettell NEW YORK, March 27 (Reuters) - Ford Motor Co, Hertz Global Holdings and Las Vegas Sands Corp are among companies seeking to take advantage of low prices of their loans by buying back the debt, and potentially getting more breathing room in the debt's covenants. Ford on Monday said a tender offer for its term loans, in which it is offering to pay 47 cents on the dollar, was oversubscribed. It doubled the cash available for the offer to $1 billion. For details, see ...

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