US: Ford to reduce automotive debt by US$3bn

Ford plans to reduce its automotive debt by around US$3bn through the redemption or conversion of its outstanding 6.50% cumulative convertible trust preferred securities, as on 15 March 2011. Accordingly, every trust preferred security will be redeemed for cash at a redemption price of US$50.33. In addition, each trust preferred security Subscribe to Automotive World … Continued

• By Webmaster
• February 11, 2011