Ford Up 10 Points On Oversubscription March 27, 2009

Ford Motor Co.'s term loan was up almost 10 points last Wednesday after it announced its $500 million debt buyback was oversubscribed, leading it to increase its offer to $1 billion. Ford Credit will purchase $2.2 billion of Ford's term loan at 47, which represents all term loan debt tendered at or below the closing price, according to the company. A $1.3 billion tender offer for unsecured non-convertible debt securities has already received $3.4 billion of offers; the tender period is open until April ...

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