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News Mar 11, 2016

Shearman & Sterling Advises on Ford Motor Credit Company’s SGD$350 Million U.S.-Registered Public Notes Offering

Shearman & Sterling represented Deutsche Bank AG, Singapore Branch, and DBS Bank Ltd. in connection with Ford Motor Credit Company offering of SGD$350 million aggregate principal amount of 3.70% notes due March 11, 2019.  Application has been made to list the notes on the New York Stock Exchange.  This was a return to the Asian markets for Ford Credit and the second foreign currency–denominated U.S.-registered public notes offering in the last year.

Ford Motor Credit Company is an indirect, wholly owned subsidiary of Ford Motor Company. Ford Credit offers a wide variety of automotive financing products to and through automotive dealers throughout the world.  The predominant share of Ford Credit’s business consists of financing Ford vehicles and supporting Ford’s dealers.

The net proceeds from the sale of the securities will be added to the general funds of Ford Credit and will be available for the purchase of receivables, for loans and for use in connection with the retirement of debt.

The Shearman & Sterling team included partners Lisa Jacobs (New York-Capital Markets) and Douglas McFadyen (New York-Tax) and associates Robert Giannattasio (New York-Corporate), Erika Khalek (New York-Corporate) and Adam Sternberg (New York-Tax).