Ford Motor borrows $15.4 billion under two credit agreements

By Wendy Van Sickle

Columbus, Ohio, March 25 – Ford Motor Co. gave notice on March 19 to borrow the total $15.4 billion of unused amounts under its credit agreements dated Dec. 15, 2006 and April 23, 2019, according to an 8-K filing with the Securities and Exchange Commission.

On Tuesday, $15.1 billion of the borrowings were advanced. The remaining $300 million is attributable to the Brazilian reais sub-facility under the company’s corporate credit facility, under which subsidiary, Ford Motor Co. Brasil Ltda., expects to receive the proceeds in April.

The credit agreements include the corporate credit agreement entered in 2006, which totals $13.4 billion, and a $2 billion revolver enters in 2019.

The automaker is based in Dearborn, Mich.

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