Ford finds floating rate note buyers prefer shortest option

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Ford finds floating rate note buyers prefer shortest option

Nigel Owen
May 10, 2018 01:00 pm
Ford badge 230x
The reflection of a Ford Five Hundred is shown on the tail gate and badge of a F-150 truck at Bob Maxey Ford in Detroit, Tuesday, July 19, 2005. Ford Motor Co. said its profit fell 19 percent in the second quarter from a year ago, stung by lower production and intense competition in North America, where it lost more than $900 million. (AP Photo/Paul Sancya) | PAUL SANCYA/AP/Press Association Images

On Wednesday, US car manufacturer Ford’s finance arm followed its recent trend in using the euro corporate market to fund itself in floating rate note format. It kept its tenors short with a pair of FRNs, but found investors had a preference for the shorter option.

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Deutsche BankMorgan StanleyCredit SuisseNews contentUnited StatesAmericasCrédit AgricoleEuroNorth AmericaCorporate Bonds
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Nigel Owen
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