Volvo Cars is pleased to announce that the issue of its EUR 500 million bond closed on 18th May, 2016. The senior unsecured notes mature on 18th May, 2021 and carry a fixed coupon rate of 3.25%. Interest will be payable semi-annually.
The bond issue is being conducted for general corporate purposes and is aimed at increasing the company’s financial flexibility and diversifying its funding sources.
Hans Oscarsson, Chief Financial Officer, says: “Volvo Car Group is pleased to have completed the transaction and the level of interest generated from institutions for the issue. Accessing the public funding underscores a major milestone for the Group, illustrating our continued financial, operational and strategic progress.”
The bond has been listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the Luxembourg Stock Exchange’s regulated market.
