Ford Motor Company (F) has announced a new issue of baby bonds with a maturity date in 2062.
The issue will have a early redemption available in 2027.
Ford has 2 other issues of baby bonds outstanding which can be seen here.
It is anticipated that the issue will be a notch below investment grade with a coupon in the 6.50% area.
The preliminary prospectus can be read here.
Thanks to EarlyBird for the heads up.
6.50
Where will it price? The Bs are finally selling off on news.
if you prefer–I was watching those just before I posted and thought they were trading too high relative to the anticipated new issue coupon and while they are off they appear yet too high–or the new issue will started trading at 25.50 – 25.75 (or there abouts)