Ford Motor Co. F,
announced on Tuesday its plans to offer $ 2 billion in senior convertible banknotes for 2026, in a private location to qualified institutional buyers. Shares of the carmaker fell 0.8% in the premarket trade. The notes will be converted into cash, Ford shares or a combination of both, in the Ford election. The initial conversion rate for notes has not yet been determined. Separately, Ford confirmed its financial orientation for 2021, but said the results for the year could be negatively affected if the current semiconductor shortage extends during the first half of the year. Shares of Ford have risen 46.0% over the past three months to Monday, while shares of rival General Motors Co. have risen. GM,
have risen 39.9% and the S&P 500 SPX,
has gained 7.2%.