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What are the Future External Financing Needs of Ford Motor Company?
What are the Future External Financing Needs of Ford Motor Company?
Expert Solution
Documents filed by Ford shows the company owes payments of $591 million in 2020, $591 million in 2021 and $289 million in 2022
On December 31, 2019, an aggregate $1.5 billion was outstanding," Ford disclosed in its most recent 10-K filing with the U.S. Securities and Exchange Commission. "The ATVM loan is repayable in quarterly installments of $148 million, which began in September 2012 and will end in June 2022."
The Ford earnings report for the first quarter of 2020 reflected a $2 billion loss, which was mostly not related to COVID-19
Ford in August 2020 went back to the banks to seek extension on $5.35 billion in loans from banks (including J.P. Morgan Chase).
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