Newswire

FMCC bond seen at swaps+265-270 bps by Thursday

LONDON, April 23 (Reuters) - Ford Motor Credit Company (FMCC), the finance arm of Ford Motor Co , plans to price a one billion euro three-year bond to yield 265-270 basis points over the swaps curve, bankers close to the deal said.

The transaction will be launched by Thursday at the latest, the bankers said.

Credit Lyonnais, Deutsche Bank and UBS Warburg have been mandated to lead manage the issue.

FMCC last tapped the debt market in January with a 1.5 billion euro 6.75 percent bond due January 14, 2008.

FMCC is rated A3 by Moody's Investors Service, BBB by Standard & Poor's credit ratings agency and BBB+ by Fitch Ratings.