Ford Otomotiv Sanayi A.S. (“Ford Otosan”) (FROTO) exp NR/BB-/BB+ (-/p/s) US$500m (no grow) 144A/Reg S 5y sr notes due 4/25/29. BNP/Citi/HSBC/SG (B&D) joint books. Listing: Euronext Dublin (GEM). Law: English Law. UOP: gcp. Pricing 4/18. Settle 4/25 (T+5). IPTs: 7.625% area.
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Ford Otomotiv Sanayi A.S. (“Ford Otosan”), a leading automotive manufacturer and Europe’s #1 commercial vehicle brand jointly majority owned by Ford Motor Company and Koc Holding, expected to be rated BB- (positive) by S&P and BB+ (stable) by Fitch, has mandated BNP Paribas, Citi, HSBC and Societe Generale to arrange a series of fixed income investor physical meetings in London, New York and Boston commencing on 15 April 2024. An inaugural 5-year USD-denominated senior unsecured Rule 144A/Reg S benchmark bond issuance will follow, subject to market conditions. FCA/ICMA stabilisation applies.