Ford Motor Co. raised $2.5 billion from the US corporate bonds to finance the green projects after Friday’s $1 trillion infrastructure deal, according to a report by MarketWatch on Monday.

  • The F-150 manufacturer stated that it plans to use the proceeds from its 10-year funding exclusively to finance its clean-transportation projects.
  • The price of Ford’s F, BB+ rated bonds by S&P Global and Fitch and Ba2 by Moody’s, contracted to 3.25% following an earlier circulation of 3.625%.
  • That signals strong demand for the auto maker’s debt as it transitions to manufacturing electronic vehicles.
  • Ford Motor has also been trying to buy back up to $5 billion of its debt that was issued at elevated yields in 2020 after the credit ratings were downgraded to “junk.”

President Joe Biden praised Congress’s passage of his pared-down infrastructure deal following months of internal conflicts in a Democratic-majority Congress. F up +2.13%, Pre-market trading