Ford Motor announced Wednesday that it had reduced its debt by $1.9 billion after note-holders converted their debt into 274 million shares of common stock. The automaker’s annual interest expenses will be reduced by $180 million because of the lower debt.
Continue reading Ford’s Bond Conversion Plan Cuts Its Debt by $1.9 Billion
Ford’s Bond Conversion Plan Cuts Its Debt by $1.9 Billion originally appeared on DailyFinance on Wed, 24 Nov 2010 15:58:00.
Filed Under: Company News, Investing, Ford Motor Co, Autos