New Issue: Ford Motor Credit prices $1.25 billion 5% seven-year notes at par

By Paul A. Harris

Portland, Ore., April 28 - Ford Motor Credit Co. LLC priced a $1.25 billion issue of seven-year senior notes (expected ratings Ba2/BB-) at par to yield 5% on Thursday, according to market sources.

The yield printed on top of price talk that was downwardly revised from earlier talk in the 5 1/8% area.

Morgan Stanley & Co. Inc., BNP Paribas, Citigroup Global Markets Inc. and RBC Capital Markets were the joint bookrunners.

Proceeds will be used for general corporate purposes.

The issuer is the lending arm of Dearborn, Mich.-based Ford Motor Co.

Issuer:	Ford Motor Credit Co. LLC
Amount:	$1.25 billion
Maturity:	May 15, 2018
Securities:	Senior notes
Bookrunners:	Morgan Stanley & Co. Inc., BNP Paribas, Citigroup Global Markets Inc., RBC Capital Markets
Co-managers:	Banco do Brasil Securities LLC, Banco Bradesco SA - Grand Cayman Branch, CIBC World Markets Corp., Commerz Markets LLC, PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC
Coupon:	5%
Price:	Par
Yield:	5%
Spread:	234 bps
Call protection:	Non-callable
Trade date:	April 28
Settlement date:	May 3
Expected ratings:	Moody's: Ba2
	Standard & Poor's: BB-
Distribution:	SEC registered
Price talk:	5%, revised downward from 5 1/8%
Marketing:	Quick to market

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