Ford launches major debt shake-up
China Daily | Updated: 2009-03-06 07:55
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Workers pass a statue of Henry Ford outside Ford Motor Company's Dearborn Truck Assembly plant in Michigan. Bloomberg News |
Ford Motor Co on Wednesday announced a plan to cut its $25.8 billion in automotive debt by about 40 percent by offering creditors cash and new shares as it looks to slash financing costs at a time of plunging sales and tight credit.
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