April 17, 2020 / 7:11 PM / 2 months ago

Ford's three-part unsecured debt offering worth $8 billion: IFR

FILE PHOTO: Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany September 10, 2019. REUTERS/Wolfgang Rattay

(Reuters) - Ford Motor Co (F.N) will launch a three-part unsecured debt offering of $8 billion, yielding up to 9.6% on the 10-year loan, capital markets intelligence provider International Financing Review reported on Friday.

Ford said earlier in the day that it would tap debt markets to shore up its cash reserves as the coronavirus outbreak pummeled vehicles sales, but the automaker did not disclose the amount.

Reporting by Ankit Ajmera in Bengaluru; Editing by Shinjini Ganguli

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