Geely cashes in on AB Volvo volatility to raise €400m

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Geely cashes in on AB Volvo volatility to raise €400m

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Corporate image of the automotive brand Volvo that exhibits its vehicles seen at the Automobile Trade Fair 2019 in Barcelona. (Photo by Ramon Costa / SOPA Images/Sipa USA) | SOPA Images/SIPA USA/PA Images

Chinese automobile conglomerate Geely has used an exchangeable bond to monetise the volatility of its stake in AB Volvo, the Swedish maker of heavy-duty vehicles, to secure €400m of funding at a zero coupon.

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