The U.S. auto industry as a whole is going through some pretty tough times, with the Big Three looking for any means to improve their financial outlook. Chrysler is experimenting with four-day work weeks, GM is selling off $4 billion in assets and Ford has just announced that it will be selling new shares of stocks.
In all, Ford plans to offer about $500 million worth of new stocks. With those proceeds, Ford will buy bonds from Ford Motor Credit, which will in turn improve the automaker’s balance sheet by reducing debt, according to Automotive News.
Ford has yet to set a date for the stock deal. Over the past 12 months, Ford has move $927 million from debt to equity.
