Ford completes tender offer, cuts $10 billion in debt
10:02 AM Mon, Apr 06, 2009 | Permalink
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DETROIT -- Ford says it completed a tender offer announced last month, reducing its debt by $9.9 billion, according to The Associated Press. About $4.3 billion in Ford's senior convertible notes were tendered. The auto maker says it will pay $344 million in cash premiums for the offer and issue 468 million shares as a result of the conversion. An offer to purchase notes from its financing arm produced $3.4 billion in securities tendered. Ford Motor Credit will use $1.1 billion to purchase that debt. 
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