Ford Issues $2 Billion of Bonds

Proceeds of automaker’s first 30-year sale since 1999 in part go to fund pension plan.

Ford Motor Co., the second-largest U.S. automaker, issued $2 billion of bonds in its first sale of fixed-rate debt maturing in at least 30 years since 1999.

The 4.75 percent securities due January 2043 were priced to yield 180 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg. Proceeds from the sale will be used to refinance debt and to fund its pension plan. The notes may be rated Baa3, the lowest level of investment grade, by Moody’s Investors Service.

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