<p>Filed under: <a href="http://www.autoblog.com/category/ford/" rel="tag">Ford</a></p><a href="detnews.com/article/20100630/AUTO01/6300393/Ford-pays-off-$4B-in-debt-with-cash"><img vspace="4" hspace="0" border="1" alt="" src="http://www.blogcdn.com/www.autoblog.com/media/2010/06/fordlogoopt.jpg" /></a><br />
<br />
<a href="http://autoblog.com/make/ford/">Ford</a> ended the first quarter with a knee-wobbling $34 <em>billion</em> in debt, but the Blue Oval has been making good on its bills in impressive fashion over the past three months. The automaker has paid off $7 billion in loans in the second quarter, saving the company $470 million in annual interest payments. <br />
<br />
The latest debt reduction came when the company paid $860 million in cash to its VEBA retirement health care fund that was due. With its pocketbook already open, Ford doled out another $2.9 billion to complete its VEBA obligation. Ford could have used stock to pay off the fund, but the company instead reaped a two-percent discount for shelling out cold, hard cash instead. Ford paid down another $250 million in securities to bring the total dollar figure to $4 billion. Ford now has $27 billion in outstanding debt and the company expects to be solidly profitable for 2010.<br />
<br />
[Source: <a href="http://detnews.com/article/20100630/AUTO01/6300393/Ford-pays-off-$4B-in-debt-with-cash">Detroit News</a>]<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2010/07/01/report-ford-cuts-debt-by-4b-with-cold-hard-cash/">Report: Ford cuts debt by $4B with cold, hard cash</a> originally appeared on <a href="http://www.autoblog.com">Autoblog</a> on Thu, 01 Jul 2010 09:59:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://detnews.com/article/20100630/AUTO01/6300393/Ford-pays-off-$4B-in-debt-with-cash>Read</a> | <a href="http://www.autoblog.com/2010/07/01/report-ford-cuts-debt-by-4b-with-cold-hard-cash/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.autoblog.com/forward/19537711/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.autoblog.com/2010/07/01/report-ford-cuts-debt-by-4b-with-cold-hard-cash/#comments" title="View reader comments on this entry">Comments</a>
More...
<br />
<a href="http://autoblog.com/make/ford/">Ford</a> ended the first quarter with a knee-wobbling $34 <em>billion</em> in debt, but the Blue Oval has been making good on its bills in impressive fashion over the past three months. The automaker has paid off $7 billion in loans in the second quarter, saving the company $470 million in annual interest payments. <br />
<br />
The latest debt reduction came when the company paid $860 million in cash to its VEBA retirement health care fund that was due. With its pocketbook already open, Ford doled out another $2.9 billion to complete its VEBA obligation. Ford could have used stock to pay off the fund, but the company instead reaped a two-percent discount for shelling out cold, hard cash instead. Ford paid down another $250 million in securities to bring the total dollar figure to $4 billion. Ford now has $27 billion in outstanding debt and the company expects to be solidly profitable for 2010.<br />
<br />
[Source: <a href="http://detnews.com/article/20100630/AUTO01/6300393/Ford-pays-off-$4B-in-debt-with-cash">Detroit News</a>]<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2010/07/01/report-ford-cuts-debt-by-4b-with-cold-hard-cash/">Report: Ford cuts debt by $4B with cold, hard cash</a> originally appeared on <a href="http://www.autoblog.com">Autoblog</a> on Thu, 01 Jul 2010 09:59:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://detnews.com/article/20100630/AUTO01/6300393/Ford-pays-off-$4B-in-debt-with-cash>Read</a> | <a href="http://www.autoblog.com/2010/07/01/report-ford-cuts-debt-by-4b-with-cold-hard-cash/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.autoblog.com/forward/19537711/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.autoblog.com/2010/07/01/report-ford-cuts-debt-by-4b-with-cold-hard-cash/#comments" title="View reader comments on this entry">Comments</a>
More...