Ford Motor Co. sold $2.5 billion of bonds whose proceeds are aimed at benefiting the environment, the automaker’s first as it transitions to making electric vehicles and the largest ever such offering from a U.S. corporation.
The Dearborn, Michigan-based company priced green bonds expected to mature in 10 years, according to a person with knowledge of the matter. The security yields 3.25%, after early pricing discussions in the 3.625% area, and net proceeds will be used exclusively for clean transportation projects and for the design, development and manufacturing of its battery electric-vehicle portfolio, the person said.
Ford said last week ...
