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Article: Ford Motor Company Announces Actions to Improve Balance Sheet and Enhance Automotive Liquidity.
- Article from:
- Journal of Transportation
- Article date:
- November 21, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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-- Proposal to amend and extend existing revolving credit facility
-- Launch of senior convertible notes offering
-- Intent to initiate an equity distribution plan
Ford Motor Company (NYSE:F) announced additional steps to improve its balance sheet and enhance automotive liquidity.
Actions being announced include a proposal to lenders under Ford's revolving credit facility to extend the maturity of the facility from 2011 to 2013 in exchange for reducing lenders' commitments and increasing interest margins and fees. In addition, Ford is seeking to raise additional capital with a convertible debt offering and an equity distribution plan.
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