Automakers accounted for a sizable amount of the total debt issued Thursday as Ford Capital BV, an overseas unit of the Ford Motor Co., and the General Motors Acceptance Corp., the tTC financing arm of General Motors, priced $800 million in securities for offering to the public.
Ford's financing of $500 million in non-callable seven-year notes, which are due to mature in 1998, was made through an underwriting group led Goldman, Sachs & Co. Underwriters gave the notes a 9 3/8 percent coupon and priced them at 99.933 to yield 9.387 percent, or about 154 basis points more than Treasury securities with a similar maturity. Goldman said the Ford notes were rated Aa-3 by Moody's Investors Service and AA minus by the Standard & Poor's Corp.
Pepsico Inc. priced a $200 million public offering of non-callable four-year notes Thursday through underwriters led by Lehman Brothers Inc.
The notes, due in 1994, were given a 7 7/8 percent coupon and priced at 100 to yield about 64 basis points more than Treasury securities with a similar maturity. Underwriters said the securities carried an A-1 rating by Moody's and an A rating by Standard & Poor's.