Ford Motor Co F

Alternate Symbol(s): F.PR.D

Consumer Cyclical Auto Manufacturers

Ford Motor Company is an automobile company. The Company develops and delivers Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, along with connected services. Its Ford Blue segment includes the sale of Ford and Lincoln internal combustion engine (ICE) and hybrid vehicles, service parts, accessories, and digital services for retail customers. Ford Model e segment primarily includes the sale of electric vehicles, service parts, accessories, and digital services. Ford Pro primarily includes the sale of Ford and Lincoln vehicles, service parts, accessories, and services for commercial, government, and rental customers. Ford Next segment primarily includes expenses and investments for emerging business initiatives aimed at creating value for Ford in vehicle-adjacent market segments. Ford Credit segment is comprised of the Ford Credit business on a consolidated basis, which is primarily vehicle-related financing and leasing activities.

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Ford Motor Co

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Comment by goldishon Apr 01, 2010 4:16pm

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Post# 16950521

Ford Credit Canada

DEARBORN, Mich. (CNW) -- Canadian Road Leasing Company, a wholly owned subsidiary of Ford Credit Canada, completed a lease securitization transaction on March 29, 2010, receiving proceeds of approximately $270 million (Canadian).
This lease securitization transaction included the lease of a portfolio of vehicles (subject to the existing retail leases) by Canadian Road Leasing Company to a special purpose trust and a one-time lease prepayment by the special purpose trust to Canadian Road Leasing Company. The lease prepayment was financed by the trust through borrowings of approximately $270 million (Canadian) from a third-party private investor.
Under the lease securitization transaction, Canadian Road Leasing Company will continue to own the vehicles that are the subject of such transaction and will be responsible for servicing the existing retail leases of such vehicles.
Both Canadian Road Leasing Company and the special purpose trust will be consolidated with Ford Credit Canada for accounting purposes. Ford Credit Canada is an indirect wholly owned subsidiary of Ford Motor Credit Company.
As a consequence of such consolidation, the third-party indebtedness incurred by the special purpose trust with respect to the lease securitization transaction will be reflected on the consolidated financial statements of Ford Credit Canada as a liability of approximately $270 million (Canadian), reducing over the term of the lease securitization transaction.
Canadian Road Leasing Company will lend the immediately available proceeds to Ford Credit Canada. Ford Credit Canada expects to use the available proceeds to repay indebtedness owing to Ford Credit International, Inc.
Ford Motor Credit Company is one of the world's largest automotive finance companies and has provided dealer and customer financing to support the sale of Ford Motor Company products since 1959. Ford Credit is an indirect wholly owned subsidiary of Ford Motor Company. For more information, visit www.fordcredit.com.

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