Ford Motor Co. to Pay $4B in Debt

Ford Motor Co. (NYSE:F) officials announced Wednesday morning that the company will pay over $4 billion in debt by paying off the amount of money it owes to the UAW Retiree Medical Benefits Trust.

The latest payment, combined with April's $3 billion 2013 revolving credit facility payment, will reportedly drop Ford's total Q2 debt by over $7 billion, saving the motor company over $470 million in annual interest expense.

Premarket shares of Ford were up 2.4% Wednesday morning at $10.12.

Shares of the motor company continue to trade up 3.04% following the opening bell at $10.18.

Write to Chip Brian at cbrian@tradethetrend.com

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