Ford Motor Company $2.3 billion convertible senior notes offering
Davis Polk advised Ford Motor Company in a Rule 144A offering of $2.3 billion aggregate principal amount of 0% convertible senior notes due 2026, including $300 million principal amount of convertible notes pursuant to the exercise in full of the initial purchasers’ over-allotment option to purchase additional convertible notes.
Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan. The company designs, manufactures, markets and services a full line of Ford trucks, utility vehicles and cars – increasingly including electrified versions – and Lincoln luxury vehicles, provides financial services through Ford Motor Credit Company and is pursuing leadership positions in electrification, mobility solutions, including self-driving services and connected vehicle services. Ford employs approximately 186,000 employees worldwide.
The Davis Polk corporate team included partner Michael Kaplan and associate Stephen A. Byeff. The equity derivatives team included partner Ray Ibrahim and associate Lindsey B. Meyers-Perez. Partner Lucy W. Farr and associate Liang Zhang provided tax advice. All members of the Davis Polk team are based in the New York office.