New Issue: FCE Bank prices upsized €400 million 7¼% three-year notes at 99.673 to yield 7 3/8%

By Paul A. Harris

St. Louis, July 7 - FCE Bank plc, the European lending arm of Ford Motor Co., priced an upsized €400 million issue of 7¼% three-year senior unsecured fixed-rate notes at 99.673 to yield 7 3/8% on Wednesday, according to an informed source.

The yield printed on top of price talk that had been lowered from earlier talk of 7½%.

Barclays Capital, Credit Agricole CIB, Deutsche Bank Securities and Morgan Stanley were the joint bookrunners for the quick-to-market deal, which was upsized from €300 million.

Issuer:	FCE Bank plc
Amount:	€400 million, increased from €300 million
Maturity:	July 15, 2013
Securities:	Senior unsecured fixed-rate notes
Bookrunners:	Barclays Capital, Credit Agricole CIB, Deutsche Bank Securities, Morgan Stanley
Coupon:	7¼%
Price:	99.673
Yield:	7 3/8%
Spread:	660 bps
Trade date:	July 7
Settlement date:	July 14
Ratings:	Moody's: Ba3
	Standard & Poor's: B
	Fitch: BB-
Distribution:	Regulation S, Euro medium-term note program
Price talk:	7 3/8%, decreased from 7½%

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