Ford Motor Company Enters into $3.0 Billion Term Loan Credit Agreement

Details

The agreement is unsecured, with interest calculated based on market rates for Daily Simple SOFR loans. It includes typical representations, warranties, affirmative and negative covenants, and a liquidity covenant requiring Ford to maintain a minimum of $4 billion in aggregate domestic cash and securities or credit availability. The agreement is consistent with Ford's existing credit facilities and is free of material adverse change conditions.

Items reported

Exhibits (1)

About Ford Motor Company

Ford Motor Company, a prominent entity in the automotive sector, is renowned for designing, manufacturing, and selling a full line of trucks, utility vehicles, and cars, domestically and internationally. This esteemed company, founded in 1903 and headquartered in Dearborn, Michigan, also holds a significant presence in the automotive financial services landscape through Ford Credit. Ford’s commitment to innovation is evident in its push towards sustainable and smart vehicles, including the development of electric and autonomous driving technologies. As a key player in the automotive industry, Ford impacts several sectors, including manufacturing, transportation, and energy. Its operations influence global supply chains, employment, and economic health. The company's broad market reach, storied history, and strategic emphasis on future mobility solutions reinforce its integral role in the automotive market's advancement and evolution.