Snr Convertible Notes Prices
Ford Motor Co
07 December 2006
Contact:
Media: Equity Investment Fixed Income Shareholder Inquiries:
Becky Sanch Community: Investment Community: 1.800.555.5259 or
1.313.594.4410 Raj Modi Rob Moeller 1.313.845.8540
bsanch@ford.com 1.313.323.8221 1.313.621.0881 stockinf@ford.com
fordir@ford.com fixedinc@ford.com
FORD PRICES $4.5 BILLION OF SENIOR CONVERTIBLE NOTES
DEARBORN, Mich., Dec. 6 - Ford Motor Company (NYSE: F) today announced the
pricing of $4.5 billion principal amount of unsecured Senior Convertible Notes
due 2036 (increased from $3 billion). Ford expects to close the sale of the
notes on December 15, 2006, subject to the satisfaction of customary closing
conditions.
The notes will pay interest semiannually at a rate of 4.25% per annum. The notes
will be convertible into shares of Ford's common stock, based on a conversion
rate (subject to adjustment) of 108.6957 shares per $1,000 principal amount of
notes (which is equal to a conversion price of $9.20 per share, representing a
25% conversion premium based on the closing price of $7.36 per share on December
6, 2006).
Ford expects to use the net proceeds from the offering for general corporate
purposes. In addition, Ford has granted the underwriters an over-allotment
option to purchase up to $450 million principal amount of additional notes.
The joint-book running managers for this offering are Citigroup Corporate and
Investment Banking, Goldman, Sachs & Co., J.P. Morgan Securities Inc., Deutsche
Bank Securities Inc., Lehman Brothers Inc., Merrill Lynch, Pierce, Fenner &
Smith Incorporated and Morgan Stanley & Co. Incorporated. The joint-lead manager
for this offering is BNP Paribas Securities Corp.
Offers and sales of the notes will be made only by the related prospectus and
prospectus supplement. A copy of the prospectus and prospectus supplement can be
obtained from:
Citigroup Corporate and Investment Banking
Brooklyn Army Terminal, 140 58th Street, 8th Floor
Brooklyn, NY 11220
Tel: 718-765-6732 or Fax: 718-765-6734
Goldman, Sachs & Co.
Attn: Prospectus Dept, 85 Broad St.
New York, NY 10004
Fax: 212-902-9316 or email at prospectus-ny@ny.email.gs.com
J.P. Morgan Securities Inc.
National Statements Processing
4 Chase Metrotech Center, CS Level
Brooklyn, NY 11245
Tel: 718-242-8002 or Fax: 718-242-1350
There shall not be any offer or sale of these notes in any jurisdiction in which
the offer or sale would be unlawful.
Ford Motor Company, a global automotive industry leader based in Dearborn.
Mich., manufactures or distributes automobiles in 200 markets across six
continents. With about 300,000 employees and more than 100 plants worldwide, the
company's core and affiliated automotive brands include Aston Martin, Ford,
Jaguar, Land Rover, Lincoln, Mazda, Mercury and Volvo. Its automotive-related
services include Ford Motor Credit Company.
This information is provided by RNS
The company news service from the London Stock Exchange