Ford to Offer $1.55 Billion in Securities:...
From Times Staff and Wire Reports
Ford to Offer $1.55 Billion in Securities: Ford Motor Co. intends to sell $1.55 billion in debt securities to pay for its recent acquisition of Associates First Capital, the nation’s third-largest independent finance company, according to documents filed with the Securities and Exchange Commission. Ford said in the SEC filing that it is seeking to issue the debt securities through Ford Holdings Inc. The securities will be sold “to reduce short-term debt, including borrowings to fund the acquisition of Associates,” according to the registration statement. Ford acquired the Dallas company from Paramount Communications Inc. for $3.35 billion on Oct. 31.
