Who Will Be Ford's Escort?

O'Leary, Christopher
May 2003
Investment Dealers' Digest;5/19/2003, Vol. 69 Issue 20, p10
Trade Publication
With automobile company Ford Motor Co.'s long exile from the corporate bond markets likely to end by Summer 2003, market speculation is now centering on which banks will win the mandate for what likely would be one of the largest and most publicized deals in the high-grade market this year. While Ford has maintained silence on its debt market plans, a number of analysts and investors believe that the time is suitable for the automobile company to return to the corporate bond market, which it has not approached in more than a year. There's a lot in favor of a new Ford deal. The debt markets are showing better performance, Ford's existing bond spreads have tightened by more than 200 basis points from late 2002 and investors have finally had time to assimilate their extensive Ford bond holdings.


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