I checked and almost all of Ford's securities trade at or above par, so the market value of Ford's debt is higher than I presented above. When I was doing the research, I noticed that Ford has Corporate Debentures that were issued in May 1997 and come due in May 2097!
Exactly - and if FB issued debt - it will trade higher than that of Ford's (with the implicit assumption that FB is a better credit name than Ford).
Those debentures are usually used to finance pension liabilites. I am not sure if corporates are still issuing debt with that kind of duration anymore after the crisis :)
