Ford Motor Co. F,
announced on Tuesday that it intends to offer $ 2 billion in senior convertible banknotes in 2026 in a private placement to qualified institutional buyers. Shares of the carmaker fell 0.8% in premarket trading. The notes will be converted to cash, Ford shares or a combination of both at the Ford election. The initial note conversion rate has not yet been set. Separately, Ford stated its financial guidance for 2021, but said the results for the year could be negatively affected if the current semiconductor shortage expands in the first half of the year. Shares of Ford rose 46.0% in the last three months to Monday, while shares of rival General Motors Co. GM,
rose 39.9% and the S&P 500 SPX,
gained 7.2%.