By Cristal Cody
Tupelo, Miss., Feb. 18 – Ford Credit Canada Ltd. sold C$650 million of 3.14% senior notes due June 14, 2019 at par on Thursday, according to a market source.
The notes (Baa2/BBB-/DBRS: BBB) priced with a spread of 265 basis points over the interpolated Government of Canada bond curve.
BMO Nesbitt Burns Inc., TD Securities Inc., CIBC World Markets Inc., RBC Dominion Securities Inc. and Scotia Capital Inc. were the bookrunners.
The notes are unconditionally guaranteed by parent company Ford Motor Credit Co. LLC.
Oakville, Ont.-based Ford Credit Canada is an affiliate of the Ford Motor Co.
| Issuer: | Ford Credit Canada Ltd.
|
| Guarantor: | Ford Motor Credit Co. LLC
|
| Amount: | C$650 million
|
| Maturity: | June 14, 2019
|
| Securities: | Senior notes
|
| Bookrunners: | BMO Nesbitt Burns Inc., TD Securities Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc.
|
| Coupon: | 3.14%
|
| Price: | Par
|
| Yield: | 3.14%
|
| Spread: | 265 bps over interpolated Government of Canada bond curve
|
| Pricing date: | Feb. 18
|
| Settlement date: | Feb. 25
|
| Ratings: | Moody’s: Baa2
|
| Standard & Poor’s: BBB-
|
| DBRS: BBB
|
| Distribution: | Canada
|
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