EX-99.2 3 e091205ex992.txt Exhibit 99.2 Ford Ford Motor Credit Company NEWS Contact: Media: Equity Investment Fixed Income Investment ------ ----------------- ----------------------- Brenda Hines Community: Community: 313.594.1099 ---------- ---------- bhines1@ford.com Raj Modi Rob Moeller 313.323.8221 313.621.0881 fordir@ford.com fixedinc@ford.com FOR IMMEDIATE RELEASE --------------------- FORD MOTOR CREDIT COMPANY PROPOSES REGISTERED EXCHANGE OFFERS FOR UP TO $2.4 BILLION OF HERTZ DEBT SECURITIES DEARBORN, Mich., Sept. 12, 2005 - Ford Motor Credit Company announced today that it intends to file with the Securities and Exchange Commission a registration statement to offer to exchange debt securities of Ford Motor Credit for up to $2.4 billion of outstanding debt securities of The Hertz Corporation having similar terms. These exchange offers are being made in connection with the sale by Ford Motor Company (NYSE: F) of Hertz to an investor group composed of Clayton Dubilier & Rice, The Carlyle Group and Merrill Lynch Global Private Equity. Ford Motor Credit would receive from the buyers of Hertz cash for any Hertz debt securities that are exchanged. - more - The Hertz debt securities that Ford Motor Credit is offering to exchange for Ford Motor Credit debt securities are listed below: Outstanding Ford Credit Debt Securities Principal Debt Securities Issued by to be Issued in Exchange Amount Hertz to be Exchanged for the Hertz Debt Securities ------ --------------------- ----------------------------- $600,000,000 6.350% Senior Notes 6.350% Notes due June 15, 2010 due June 15, 2010 $500,000,000 7.40% Senior Notes 7.40% Notes due March 1, 2011 due March 1, 2011 $800,000,000 7 5/8% Senior Notes 7 5/8% Notes due June 1, 2012 due June 1, 2012 $250,000,000 6.9% Notes 6.9% Notes due August 15, 2014 due August 15, 2014 $250,000,000 7% Senior Notes 7% Notes due January 15, 2028 due January 15, 2028 Consents to amend the indentures under which the Hertz debt securities have been issued will also be sought as part of the exchange offers. The exchange offers would be conditioned on, and are intended to close simultaneously with, the consummation of the sale of Hertz by Ford to the buyers. The sale is anticipated to be completed by year end. Ford Motor Credit Company is one of the world's largest automotive finance companies and has supported the sale of Ford products since 1959. With about 16,000 employees, Ford Motor Credit operates in 37 countries and manages $160 billion in receivables. Ford Motor Credit is an indirect, wholly owned subsidiary of Ford Motor Company. It provides automotive financing for Ford, Lincoln, Mercury, Aston Martin, Jaguar, Land Rover, Mazda and Volvo dealers and customers. THIS PRESS RELEASE IS NOT AN OFFER TO SELL SECURITIES AND IT IS NOT SOLICITING AN OFFER TO BUY OR EXCHANGE SECURITIES IN THE UNITED STATES, NOR IS THIS PRESS RELEASE AN OFFER TO SELL SECURITIES OR SOLICITING AN OFFER TO BUY OR EXCHANGE SECURITIES IN ANY STATE OR JURISDICTION IN WHICH SUCH AN OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAW OF ANY SUCH STATE OR JURISDICTION. # # #