Commentary & Deal Flow

Reoffer: 6.5yr: UKT+153bp / 99.996 / 6.129%
Benchmark: 6.5yr: UKT 4.25% 07-Dec-32 @ 98.657 / HR 104%

Final Books: above £800mm (pre-rec, at tight end of guidance)

Launched: 6.5yr: £300m @ UKT+153bp - Books above £800mm (pre-rec, at tight end of guidance)
Guidance: 6.5yr: UKT+155bp (+/-2 WPIR)
IPTs: 6.5yr: UKT+175a

• Issuer: Ford Motor Credit Company LLC (Ticker: F, Country: US)
• Issuer Ratings (M/S/F): Ba1 (Stable) / BBB- (Negative) / BBB- (Stable)
• Expected Ratings (M/S/F): Ba1 / BBB- / BBB-
• Format: SEC Registered EMTN / NYSE Listing / NY Law
• Ranking: Senior Unsecured
• Currency: GBP
• Gilt Benchmark: UKT 4.25% due 2032 Mid (98.657) (Bid (98.627) / HR: 104%
• Size: £300m
• Tenor: 6.5yr
• Maturity Date: 16-Dec-32
• Reoffer: 99.996 UKT + 153bps Semi Ann 6.038% / Annual 6.129%
• Coupon: 6.12%, Fixed; Annual (short first); ACT/ACT (ICMA)
• Optional Redemption: MWC UKT+25bps
• Settlement: 16-Jun-26 (T+5)
• Denominations: £100k x £1k
• Use of Proceeds: General Corporate Purposes
• Active Bookrunners: Barclays, HSBC, ICBC Standard Bank, Lloyds (B&D), NatWest
• Selling Restrictions: See the Prospectus dated 07-Feb-24, as supplemented by the Prospectus Supplement dated 30-Apr-26
• Clearing: Euroclear / Clearstream
• Target Market: Manufacturer target market (MiFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs key information document (KID) and no UK disclosure document required by DISC have been prepared as the Notes are not available to retail in the EEA or the UK
• Sales into Canada: No
• Stabilization: Relevant stabilization regulations including FCA/ICMA apply
• LEI: UDSQCVRUX5BONN0VY111
• ISIN: XS3402923596
• Timing: Priced TOE 15:11UKT / FTT TBC