UPDATE 1-Ford extends secured revolving credit two years
* Ford to repay $1.9 bln of revolver on Dec. 3
* Lenders extend $7.2 bln of revolver to Nov. 30, 2013
* Lender convert $724 mln of revolver to term loan
* Lenders on $886 mln decline to extend revolver
DETROIT, Nov 24 (Reuters) - Ford Motor Co (F.N) said on Tuesday it had completed a two-year amendment and extension on three-quarters of a $10.7 billion secured revolving credit that provides liquidity to support its turnaround.
Earlier in November, Ford announced plans to extend the facility as well as issue some $3 billion of stock and equity linked securities to improve its balance sheet.
Ford said it would repay $1.9 billion of the revolver on Dec. 3. It also said lenders had agreed to extend $7.2 billion of the facility due in mid-December 2011 to Nov. 30, 2013 and to convert $724 million to a term loan due in December 2013.
Lenders with $886 million of commitments elected not to extend the maturity beyond Dec. 15, 2011, Ford said.
The only large U.S.-based automaker not to restructure under a U.S. government-funded bankruptcy in 2009, Ford posted a nearly $1 billion third-quarter profit that surprised Wall Street analysts.
(Reporting by David Bailey; Editing by Richard Chang) ((email@example.com; +1 313 967 1910; Reuters Messaging: firstname.lastname@example.org))
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