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Ford issues $8 billion debt securities after virus causes $2 billion loss


Ford Motor Co
the U.S. Federal Reserve’s
International Financing Review
General Motors Co
BorgWarner
Rachit Vats
Reuters
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F.N
Ankit Ajmera
Aditya Soni
Jonathan Oatis
Shinjini GanguliAll


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The New York Times
SOURCE: http://feeds.reuters.com/~r/reuters/topNews/~3/cVSfrClbpCA/ford-issues-8-billion-debt-securities-after-virus-causes-2-billion-loss-idUSKBN21Z2D6
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Summary

3 Min Read(Reuters) - Ford Motor Co (F.N) on Friday raised $8 billion from corporate debt investors to shore up its cash reserves as the coronavirus outbreak pummeled vehicle sales and production, resulting in an estimated loss of about $2 billion for the first quarter. Investors said Ford benefited from the U.S. Federal Reserve’s move last week to backstop debt offerings by companies that lost investment-grade credit ratings after the COVID-19 crisis accelerated in the United States, International Financing Review reported on Friday.

 As said here by Joseph White
Reuters
Joseph White