Ford assumes $3.805B DOE loan for Kentucky battery plant, exits BlueOval SK JV

FORD MOTOR CO

Ford redeemed its membership interest in BlueOval SK (BOSK) and terminated its $6.6B capital contribution commitment.
Ford subsidiary FEB acquired BOSK's two Kentucky battery plants, subject to existing DOE liens.
Ford assumed a $3,805,040,000 promissory note from DOE at 4.814% interest, maturing July 15, 2040.
Quarterly interest-only payments through Jan 15, 2030, then principal and interest payments through 2040.
Loan covenants include liquidity minimum of $4B and cross-default triggers at $1B indebtedness.

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