Commentary & Deal Flow

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.