Ford Motor to pay down $3 billion of revolver debt on April 6

By Sara Rosenberg

New York, March 29 - Ford Motor Co. plans to repay $3 billion of its revolving credit facility borrowings on April 6, according to an 8-K filed with the Securities and Exchange Commission on Monday.

The company said that it is making the repayment as a result of the improved state of the capital markets and global economic conditions.

At Dec. 31, the company had $7.9 billion of usage under its $8.1 billion revolver. On Feb. 3, 2009, all available funds under the revolver had been drawn due to instability in the capital markets and the economy.

Ford is a Dearborn, Mich.-based manufacturer and distributor of automobiles.

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