Ford Increases Size of Sale of TALF Securities to $1.25 Billion
January 06, 2010, 11:49 AM ESTBy Sarah Mulholland
Jan. 6 (Bloomberg) -- Ford Motor Co.’s finance unit boosted the size of its planned sale of bonds backed by payments from auto dealers to $1.25 billion, according to a person familiar with the offering.
The company had planned to sell $500 million of the top- rated securities, which are eligible for the Federal Reserve’s Term Asset-Backed Securities Loan Facility, said the person, who declined to be identified because terms are private.
The sale may occur as soon as today, the person said. The bonds may price to yield 165 basis points more than the one- month London interbank offered rate, a borrowing benchmark, the person said. A basis point is 0.01 percentage point.
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To contact the reporter on this story: Sarah Mulholland in New York at smulholland3@bloomberg.net
To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net
