Ford Motor Company
Ford Motor Company is an automotive brand manufacturer that distributes vehicles, accessories, and parts, across the globe.
Key facts
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| Also Known As | Ford |
|---|---|
| Legal Name | Ford Motor Company Limited |
| Company Operating Status | Active |
| Full Address | P.O. BOX 6248 DEARBORN, MI 48126 |
| Legal Entity Identifier | 20S05OYHG0MQM4VUIC57 |
| Motto/Tagline | Designed for living. Engineered to last. The Best Never Rest. |
| Public/Private | Public |
| Stock Symbol | F |
| Ticker Symbol | F |
| Wellfound ID | ford-motor |
Covenant analysis
| Covenant | Term | vs market | Source |
|---|---|---|---|
| Cross-Acceleration – Existing Credit Agreement / Other Indebtedness · Event of Default | Event of Default if Other Indebtedness ≥ $1,000,000,000 under Existing Credit Agreement or Permitted Additional Senior Facilities is accelerated by holders due to a default | loose $1bn vs event of default median $125m (n=62) | source ↗ |
| Compliance Certificate Delivery · Reporting | Concurrently with delivery of financial statements; unless Total Available Revolving Commitments ≥ $4,000,000,000, must include Available Liquidity calculation | source ↗ | |
| Limitation on Liens on Collateral · Negative Covenant | Facility Owner may not create any lien on Collateral or property purchased with Advance proceeds other than Permitted Liens; Facility Owner Parent may not lien Equity Interests of Facility Owner or Kentucky IRB Subsidiary except Permitted Liens | source ↗ | |
| Restriction on Disposition of Principal Trade Names · Negative Covenant | Borrower shall not dispose of any Principal Trade Name | source ↗ | |
| Mandatory Prepayment – Illegality · Prepayment | Full prepayment of all Advances and Secured Obligations upon determination by DOE that Applicable Law makes the Loan unlawful or impossible | source ↗ | |
| Voluntary Prepayment Minimum Amount · Prepayment | Minimum voluntary prepayment amount of $5,000,000; 13 Business Days prior notice required | source ↗ | |
| Loss Proceeds Account Establishment · Affirmative Covenant | Loss Proceeds Account must be established within 90 days of Execution Date | source ↗ | |
| Prohibited Persons – Principal Person Replacement · Affirmative Covenant | If any Principal Person becomes a Prohibited Person, Borrower must remove and replace within 30 days of obtaining Knowledge | source ↗ | |
| Judgment Default Threshold · Event of Default | Event of Default if one or more judgments against Borrower, Facility Owner or Significant New Guarantor that are not vacated, discharged, stayed or bonded within 60 days involving liability ≥ $100,000,000 (single) or ≥ $200,000,000 (aggregate) | tight $60 vs event of default median $125m (n=62) | source ↗ |
| Attachment Lien Threshold · Event of Default | Event of Default if attachment lien or analogous process lien on Collateral in excess of $100,000,000 is not removed within 30 days | tight $100m vs event of default median $125m (n=62) | source ↗ |
| Cross-Default – Other Indebtedness (Borrower) · Event of Default | Event of Default if Borrower fails to pay principal or interest on Other Indebtedness beyond grace period with aggregate outstanding principal ≥ $1,000,000,000; or if such indebtedness is accelerated | loose $1bn vs event of default median $125m (n=62) | source ↗ |
| Available Liquidity Minimum · Financial Maintenance | $4,000,000,000 minimum at all times | loose $4e+06bn vs financial maintenance median $2bn (n=6) | source ↗ |
| Restriction on Disposition of FMCC Capital Stock · Negative Covenant | No disposition of FMCC capital stock that results in Borrower owning less than 49% of outstanding Capital Stock of FMCC | loose 49% vs negative covenant median 20% (n=79) | source ↗ |
| Project-Related Merger/Disposition Restriction (Facility Owner) · Negative Covenant | No disposition or issuance of equity interests resulting in Borrower owning less than 100% of Facility Owner; no disposition of Collateral or Kentucky IRB Subsidiary equity without prior written DOE consent | loose 100% vs negative covenant median 20% (n=79) | source ↗ |
Contact details
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