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07-01-2010, 11:11 PM #1
Ford Motor Co. to Pay $4B in Debt
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
http://www.foxbusiness.com/story/market ... -b-debt-f/NO AMNESTY
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