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Ford Motor’s 4.25% convertible bonds due 2036 are putable on Dec. 20
By Marisa Wong
Morgantown, W.Va., Dec. 2 – Ford Motor Co. is notifying the remaining holders of its 4.25% senior convertible notes due 2036 that they may exercise their put option on Dec. 20.
The repurchase price will be par plus accrued interest to the redemption date.
Holders who wish to exercise their put right must give notice by Dec. 13.
Of the original $4.95 billion principal amount, $818,000 remains outstanding.
Ford previously terminated the conversion rights for the notes, effective Jan. 21, 2014.
Bank of New York Mellon is the trustee.
The automaker is based in Dearborn, Mich.
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