Autos gear up for debt issues

News

The first quarter of 2002 will be a lively one for autos
issuance. The two biggest companies in the sector – Ford and GM – are expected to kick off their borrowing within days of the announcement of their annual results in mid-January.

In addition, the big three – Ford, GM and DaimlerChrysler – are likely to issue at least $60 billion next year, says Paul Griffith, general industrials analyst at Goldman Sachs.

But that will be less than the $75 billion they went to the market for in 2001. The

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