Shearman & Sterling acted as counsel for Goldman Sachs & Co., Blackstone Advisory Services L.P., Citi, Deutsche Bank Securities, JPMorgan, Banc of America Securities LLC, Morgan Stanley, Barclays Capital, BNP Paribas, RBS Greenwich Capital and HSBC as dealer managers in connection with Ford Motor Company’s recently completed debt restructuring. The components of the restructuring, which began on March 4, 2009, were a conversion offer by Ford for any and all of its outstanding 4.25% Senior Convertible Notes due December 15, 2036 and cash tender offers by Ford Motor Credit Company for up to $500 million (later increased to $1 billion) of Ford’s senior secured term loan debt and up to $1.3 billion of certain of Ford’s unsecured, non-convertible debt securities. On April 6, 2009, Ford announced the successful completion of this restructuring, in which Ford and Ford Credit used $2.4 billion in cash plus 468 million shares of Ford common stock to reduce Ford’s outstanding automotive debt by $9.9 billion.

The Shearman & Sterling team included partners Lisa Jacobs (New York-Capital Markets), Michael Benjamin (New York-Capital Markets) and Peter Blessing (New York-Tax) and associates Stephen Ashley (New York-Capital Markets), Tina Varghese (New York-Capital Markets) and Amy Lewis (New York-Tax).