Ford Issues $8 Billion Debt Securities After Virus Causes $2 Billion Loss

Ford Issues $8 Billion Debt Securities After Virus Causes $2 Billion Loss
The front grill logo of a Ford pickup truck is seen in this photo taken in Carlsbad, California on Nov. 5, 2014. Mike Blake/Reuters
Reuters
Updated:

Ford Motor Co. on Friday raised $8 billion from corporate debt investors to shore up its cash reserves as the COVID-19 outbreak pummeled vehicle sales and production, resulting in an estimated loss of about $2 billion for the first quarter.

The Dearborn Michigan-based company, which lost its investment-grade status in March, raised new funds with a three-part debt offering, according to a regulatory filing.