Last Updated: November 09. 2009 3:52PM
Ford collects $2.8B from bond sales
Bryce G. Hoffman / The Detroit News
Ford Motor Co. announced today that it has raised more than $2.8 billion through its latest bond offering.
Last week, the Dearborn automaker announced a plan to sell $2.5 billion in new 4.25 percent senior convertible notes with a due date of Nov. 15, 2016. The company also gave the underwriters the option of purchasing up to $375 million worth of additional notes.
Today, Ford settled the offer and said net proceeds from the deal totaled $2.81 billion.
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The company said that the money will "be used for general corporate purposes."
bhoffman@detnews.com (313) 222-2443
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