Ford Motor Credit completes $2B, dual-tranche bond offering; terms

Ford Motor Credit Co. LLC has priced $1.25 billion of 2.30% three-year senior notes and $750 million of 2.90% seven-year senior notes at the tight end of guidance. Both maturities will be non-callable for life.

Active bookrunners for the SEC-registered offering were Goldman Sachs (B&D for seven-year bonds), Credit Suisse, Deutsche Bank (B&D for three-year bonds), NatWest Markets, SMBC Nikko and Société Générale.

Ford Motor Credit, through its subsidiaries, provides various automotive financing products for automotive dealers worldwide. The company is headquartered in Dearborn, Mich. Proceeds of the notes will be added to the general funds of Ford Credit and will be available for the purchase of receivables, for loans and use in connection with the retirement of debt, according to the offering memorandum.

Ford Motor Credit last issued paper in August 2021, printing $1.5 billion of 2.7% senior notes due August 2026 at par. These notes closed Jan. 4 at 100.5% of par, yielding 2.58%, trade data shows.

Terms: