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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (18282)	6/23/1999 12:16:00 PM
From: Les H	Read Replies (1) \| Respond to of 99985

Ford unit says it will not sell bonds now NEW YORK, June 23 (Reuters) - Ford Motor Credit Co., the financing arm of auto giantFord Motor Co. said on Wednesday it would not sell bonds at this time due to market conditions. ''Market conditions at this time would not permit us to do a bond deal, but we continue to look at the market and evaluate it and market permitting then we will go forward with something,'' said Kristen Kinley, a spokesperson for Ford Motor Credit Co. Company officials put to rest swirling speculation Ford was about to launch its global landmark securities program, designed to be a benchmark for the corporate bond market. After a three-continent investor roadshow which began in Europe and Asia last week and wrapped up in New York on Tuesday, speculation heightened Ford would sell an inaugural $3.0 billion bond offering this week, dealers said. In recent days the size of the deal had been rumord to come between $3.0 billion and $10 billion, dealers said. ''We've never established an amount, those were all rumors so we don't actually have a deal in the works. When the market looks good then we'll start establishing size and some of the parameters of for the deal,'' Ford's Kinley said. >>>Originally, they had it scheduled for this week. >>>Then rescheduled to after 4th of July. >>>Now postponed indefinitely.