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seit 25.05.2014

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- Volvo Cars raises SEK3bn from its first Swedish bond issue

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Volvo Cars raises SEK3bn from its first Swedish bond issue

Volvo Cars, the premium car maker, has raised SEK3bn from its first Swedish bond issue, further improving the company’s financial flexibility and diversifying its funding sources.

The bond will be listed on the Official List of the Luxembourg Stock Exchange and the proceeds used for general corporate purposes.

The latest bond issue follows its successful introduction to the global corporate bond market earlier this year when it raised €500m. 

The latest issue underlines growing institutional investor support for Volvo Cars’ global growth and transformation story.

“As a global company with Sweden as its home market, this step into the Swedish market is a natural one for us to make and enables us to broaden the investor base and fund in our local currency,” said Hans Oscarsson, Chief Financial Officer.

Volvo Cars recently had its corporate rating upgraded by Moody’s Investors Service (Moody’s) to Ba2 from Ba3, with a stable outlook, citing its strong operational performance.

Volvo Cars also has a corporate rating from Standard & Poor’s (S&P) of BB with a positive outlook.