NEW YORK, Dec. 6 (UPI) -- Ford Motor Co. is raising from $18 billion to as much as $23 billion a credit line guaranteed by its factories and inventories.
The No. 2 carmaker disclosed in a Securities and Exchange Commission filing that it is boosting an $8 billion revolving credit facility to an estimated $10.5 billion to $11.5 billion due to "overwhelming support" by lenders, TheStreet.com reported.
That would boost its planned financing package to $22 billion to $23 billion.
The credit facility is the first in the company's history that uses its own assets as collateral.