Shearman & Sterling Advises on Ford Motor Credit Company’s $1 Billion Notes Offering
Shearman & Sterling represented Banco Bradesco BBI S.A., Citigroup Global Markets Inc., Commerz Markets LLC, Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC as joint book-running managers and UniCredit Capital Markets LLC and U.S. Bancorp Investments, Inc. as co-managers in connection with Ford Motor Credit Company LLC’s offering of its $350,000,000 aggregate principal amount of Floating Rate Notes due June 12, 2020 and $650,000,000 aggregate principal amount of 2.425% Notes due June 12, 2020.
Ford Motor Credit Company is an indirect, wholly owned subsidiary of Ford Motor Company, one of the world’s largest producers of cars and trucks. 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 was led by partner Lisa Jacobs
and associate Robert Giannattasio (both New York–Capital Markets). Other Shearman & Sterling lawyers involved in the transaction were partner Douglas McFadyen and associate Adam Sternberg (both New York-Tax).