Press release
136KB
novembre 19, 2021 - Ford
Ford Motor Company Announces Debt Reduction of $7.6 Billion Through Early Results, Upsizing and Settlement Date for Cash Tender Offers and Planned Redemption of its Remaining 8.500% Notes due April 2023
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DEARBORN, Mich., November 19, 2021 – #ford Motor Company (“Ford” or the “Company”) announced today the early tender results and upsizing of its previously announced cash tender offers (each, a “Tender Offer” and collectively, the “Tender Offers”) to purchase its outstanding 9.000% Notes due April 2025, 9.625% Notes due April 2030, 7.45% GlobLS due July 2031, 9.980% Debentures due February 2047, 8.900% Debentures due January 2032, 8.500% Notes due April 2023, 7.500% Debentures due August 2026, 7.125% Debentures due November 2025, 6.625% Debentures due October 2028 and 6.375% Debentures due February 2029 (collectively, the “Securities”) in the order of priority set forth in the table below (the “Acceptance Priority Level”). The Company has amended the terms of the Tender Offers to increase the combined aggregate principal amount of Securities tendered (the “Aggregate Tender Cap”) from $5,000,000,000 to $6,795,510,000, which is equal to the amount of Securities tendered to date. The Company also announced that the anticipated early settlement date for the Tender Offers is November 22, 2021 (the “Early Settlement Date”). Other than with respect to the increase in the Aggregate Tender Cap, the terms and conditions of the Tender Offers remain unchanged as described in an Offer to Purchase dated November 4, 2021 (as it may be amended or supplemented from time to time, the “Offer to Purchase”).
As of the previously announced early tender date and time of 5:00 p.m., New York City time, on November 18, 2021 (the “Early Tender Date”), according to information provided by Global Bondholder Services Corporation, the tender and information agent for the Tender Offers, the aggregate principal amount of each series of Securities set forth in the table below under “Principal Amount Tendered at Early Tender Date” has been validly tendered and not validly withdrawn in the applicable Tender Offer. Withdrawal rights for the Securities expired at 5:00 p.m., New York City time, on November 18, 2021 (the “Withdrawal Deadline”).
The Company expects to announce the pricing of the Tender Offers and the amount of each series of Securities accepted for purchase later today.
Further information in the press release to download
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