Ford (F +1.3%) plans to reduce outstanding debt by more than $1.9B by issuing 274M shares and...

|About: Ford Motor Company (F)|By:, SA News Editor

Ford (F +1.3%) plans to reduce outstanding debt by more than $1.9B by issuing 274M shares and paying $534M in cash premiums. The automaker will take a special item charge of ~$960M in Q4 to account for the conversion offers. Ford says the conversion offers will allow the company to be net cash positive by the end of the year.