By Cristal Cody
Tupelo, Miss., June 7 – Ford Motor Credit Co. LLC priced $1 billion of notes in a two-part offering on Wednesday, according to an FWP filing with the Securities and Exchange Commission.
The $650 million tranche of three-year fixed-rate notes priced at par to yield 2.425%, or Treasuries plus 98 basis points.
The company sold $350 million of three-year floating-rate notes at par to yield Libor plus 79 bps.
Banco Bradesco BBI SA, Citigroup Global Markets Inc., Commerz Markets LLC, Deutsche Bank Securities Inc., BofA Merrill Lynch and Morgan Stanley & Co. LLC were the bookrunners.
Proceeds will be added to the company’s general funds and will be available to purchase receivables, for loans and for debt retirement.
Ford Motor Credit is the financing arm of Dearborn, Mich.-based automaker Ford Motor Co.
| Issuer: | Ford Motor Credit Co. LLC
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Bookrunners: | Banco Bradesco BBI SA, Citigroup Global Markets Inc., Commerz Markets LLC, Deutsche Bank Securities Inc., BofA Merrill Lynch and Morgan Stanley & Co. LLC
|
| Co-managers: | UniCredit Capital Markets LLC and U.S. Bancorp Investments, Inc.
|
| Trade date: | June 7
|
| Settlement date: | June 12
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
| Fitch: BBB
|
| Distribution: | SEC registered
|
|
|
| Three-year notes
|
| Amount: | $650 million
|
| Maturity: | June 12, 2020
|
| Coupon: | 2.425%
|
| Price: | Par
|
| Yield: | 2.425%
|
| Spread: | Treasuries plus 98 bps
|
|
|
| Three-year floaters
|
| Amount: | $350 million
|
| Maturity: | June 12, 2020
|
| Coupon: | Libor plus 79 bps
|
| Price: | Par
|
| Yield: | Libor plus 79 bps
|
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