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Tag Archives: ford debt
Ford Extends Its $9 billion Revolving Credit Line with Lenders
In a separate transaction, Ford announced its first renminbi-denominated bond issue aimed at RMB investors in Hong Kong, Singapore and elsewhere outside the United States, with total proceeds of RMB 1 billion or about USD $158 million. Ford is losing money in the Asia-Pacific region. In the fourth quarter of 2011, Ford Asia Pacific Africa reported a pre-tax operating loss of $83 million, compared with a profit of $23 million a year ago. Continue reading
Posted in auto news, economy, financial results
Tagged auto informed, autoinformed.com, automotive news, ford bonds, ford debt, ford dividend, ford motor, Ken Zino, renminbi, rmb
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Ford Family and Other Shareholders to Receive Dividends
Ford still remains heavily in debt – at $12.7 billion. However, Ford decreased automotive debt by $1.3 billion in the third quarter of this year, including payment of the remaining $1.8 billion balance of secured Term Loan debt, which was offset partially by an increase in controversial taxpayer-subsidized low-cost loans from the Department of Energy to support advanced technology under the guise of retooling existing plants. Continue reading
Ford Q3 Income, Profits Down as Volume Increases. No Dividend Yet, But Sooner Rather than Later Promised
Ford continues to struggle globally by posting losses in moribund European economies, and – surprisingly – the growth markets of Asia Pacific and Africa. North America, where Japanese competitors have been out of the market since the March earthquake and tsunami disrupted production, and South America reported pre-tax profits for the third quarter. Continue reading
Posted in auto news, economy, financial results, news analysis, results
Tagged auto informed, auto news, autoinformed, autoinformed.com, automotive news, ford asia pacific, ford china, ford debt, ford earnings, ford Europe, ford q3, ford results, Ken Zino, q3 ford earnings, results, zino
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Ford Common Stock Dividend Coming Next Year?
Ford previously maintained it would not restore the divided until it achieved an investment-grade rating, CFO Lewis Booth said, omitting that a dividend payment was forbidden under covenants for previously issued bonds that kept it out of bankruptcy during the Great Recession. Those bonds presumably have been or will be paid off. Ford still has $14 billion in debt according to its latest SEC filing. Continue reading
Ford Motor Nets $2.6 Billion in Q1 on $33 Billion Revenue
Ford Motor Company (NYSE: F) today reported first quarter 2011 net income of $2.6 billion, or 61 cents per share, an increase of $466 million, or 11 cents per share, from first quarter 2010 as the global auto industry continued … Continue reading
Ford to Issue Common Stock to Reduce Debt by $3 Billion
Ford Motor Company (NYSE: F) said today that it will convert some of its $16 billion in outstanding debt to shares of common stock. In so doing, the second largest Detroit automaker will take a charge of $60 million against its first quarter earnings.
Ford is still listed as below investment grade by the rating agencies – Moody’s Investors Service (Ba2) and Standard & Poor’s B+. Both are junk ratings that raise borrowing costs and limit large mutual funds from buying Ford bonds. Ford lost its investment grade rating in 2005. Continue reading
Ford Reduces Debt With Successful Conversion Offers
Ford Motor Company (NYSE: F) announced today the results of conversion offers of bonds for stock that will reduce the company’s Automotive debt by more than $1.9 billion, lowering annualized interest costs by about $180 million. “These successful conversion offers represent another significant step toward our goal of reducing our Automotive debt and improving our balance sheet,” said Lewis Booth, Ford executive vice president and chief financial officer.
However, Ford is still listed as below investment grade by the rating agencies such as Moody’s Investors Service (Ba2) and Standard & Poor’s B+. Both junk ratings raise borrowing costs and limit large funds from buying Ford bonds. Ford lost its investment grade rating in 2005. Continue reading
