StockMarketWire.com - Ford Motor Co has launched offers for its 4.25% senior convertible notes due 15 December 2036 and 15 November 2016.

Ford will pay a premium in cash to induce the holders to convert the debt for shares.

The 2036 notes were issued in 2006 and the outstanding principal amount is approximately $579m.

The conversion rate is 108.6957 shares of Ford common stock per $1,000 principal amount.

Holders will also get a cash payment equal to $190.00, plus accrued and unpaid interest.

The 2016 notes were issued in 2009 and the outstanding principal amount is $2.875bn.

The conversion rate with respect to the 2016 Convertible Notes is 107.5269 shares of Ford common stock per $1,000 principal amount.

Holders will also get a cash payment equal to $215.00, plus accrued and unpaid interest.




Story provided by StockMarketWire.com