Ford to repay about $300 million of term debt with Volvo sale proceeds

By Sara Rosenberg

New York, Aug. 2 - Ford Motor Co. is expected to use about $300 million of the net cash proceeds from the sale of Volvo Car Corp. to repay outstanding term loan borrowings, according to an 8-K filed with the Securities and Exchange Commission.

The sale of Volvo to Zhejiang Geely Holding Group Co. Ltd. was completed on Monday.

Ford is a Dearborn, Mich.-based automotive company.

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