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Ford Motor Credit Corp. has issued the first euro benchmark bond in a year. The issue, which is lead managed by WestLB AG, Barclays and BNP, has a volume of € 1.5 billion and a spread of 310 basis points over mid-swaps. The price of the 5-year issue is thus at the lower end of the spreadtalk of 310 to 325 basis points. The strong interest can also be seen in the order book, which contains orders from over 300 investors with a value in excess of € 4 billion. The transaction volume of € 1.5 billion has not been increased, however, in order to ensure a strong performance of the bond in the secondary market.