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Ford Motor Co. sold $1.5 billion of bonds in its first benchmark issue since the second-largest U.S. automaker regained investment-grade ratings from Moody's Investors Service last month.

Ford Motor Credit Co., the carmaker's financing unit, sold the 3-percent, five-year notes at a spread of 230 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg. The spread was reduced from initial talk of about 240 basis points, according to a person familiar with the offering who asked not to be identified because details are private.

From The Detroit News: http://www.detroitnews.com/article/20120607/AUTO0102/206070451#ixzz1xRBhkK2Z
 
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