Ford Motor Credit is selling bonds worth $1 billion, The Wall Street Journal reports. The Ford upgrade exchange linked notes, carrying a coupon rate of 3.98%, will mature on June 17, 2016, adds Reuters. The financial services arm of Ford Motor is sponsoring the sale through the FUEL Trust 2011-2. Bank of America Securities, Barclays Capital, JP Morgan Chase and Royal Bank of Scotland are the joint book-runners for the transaction.
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