Shearman & Sterling acted as counsel for Goldman Sachs & Co., Blackstone Advisory Services L.P., Citi, Deutsche Bank Securities, JPMorgan, Banc of America Securities and Morgan Stanley as dealer managers in Ford Motor Company's restructuring plan to eliminate up to $10.4 billion of its debt. The restructuring plan included two offers by Ford Motor Credit Company: a $1.3 billion cash tender offer to purchase Ford’s unsecured, nonconvertible debt securities, of which $8.9 billion aggregate principal amount is outstanding, and a $500 million cash tender offer to purchase through a dutch auction Ford’s senior secured term loan debt, of which $6.9 billion aggregate principal amount is outstanding. In addition, Ford has launched a conversion offer in which it will pay a premium in cash to induce the holders of its outstanding 4.25% Senior Convertible Notes to convert all of these notes into shares of Ford’s common stock. The Convertible Notes, issued in 2006, have an outstanding principal amount of $4.88 billion.

The Shearman 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), Christine Kim (New York-Capital Markets) and Amy Lewis (New York-Tax).

For more information, please contact: Ron Brandsdorfer | New York | T +1.212.848.5081 |