By Paul A. Harris
St. Louis, April 6 - Ford Motor Credit Co. LLC priced a $1.75 billion issue of 7% five-year senior notes (B1/B-/B+) at 99.478 to yield 7 1/8% on Tuesday, according to an informed source.
The yield printed on top of price talk.
Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and RBS Securities Inc. were the joint bookrunners for the quick-to-market deal.
Co-managers were BNP Paribas Securities Corp., HSBC Securities, Calyon Securities and Wells Fargo Securities.
The issuer, the financing arm of Ford Motor Co., will use the proceeds for general corporate purposes.
| Issuer: | Ford Motor Credit Co. LLC
|
| Face amount: | $1.75 billion
|
| Proceeds: | $1.741 billion (approximate)
|
| Maturity: | April 15, 2015
|
| Securities: | Senior notes
|
| Bookrunners: | Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities Inc., RBS Securities Inc.
|
| Co-managers: | BNP Paribas Securities Corp., HSBC Securities, Calyon Securities, Wells Fargo Securities
|
| Coupon: | 7%
|
| Price: | 99.478
|
| Yield: | 7 1/8%
|
| Call protection: | Non-callable
|
| Trade date: | April 6
|
| Settlement date: | April 9
|
| Ratings: | Moody's: B1
|
| Standard & Poor's: B-
|
| Fitch: B+
|
| Distribution: | SEC registered
|
| Price talk: | 7 1/8% area
|
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