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Ford to Issue Long-Term Auto Debt

Company says notes will finance self-driving cars, electrified vehicles and other initiatives.

By Keith Naughton, Bloomberg | Updated on December 05, 2016

Ford Motor Co. said today that it’s issuing new automotive debt for the first time in almost four years as the company boosts spending on self-driving cars, mobility services and electrified vehicles.

The second-largest U.S. automaker is taking on an unspecified amount of debt in 10-year and 30-year notes, according to a regulatory filing. Ford’s last automotive debt issue was for $2 billion in January 2013. The company said its auto business had $13.1 billion in debt at the end of September and net cash of $11.2 billion.

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