Volvo gets electric transformation under way with debut green bond

By Mike Turner
28 Sep 2020

Volvo Car, the Swedish manufacturer owned by China’s Geely Holding, sold a debut green bond this week, days after saying its freshly published green finance framework would help it transform into an electric car maker.

Volvo Car is rated Ba1/BB+ but the trade was run from investment grade and high yield syndicate desks. BNP Paribas, ING and SEB arranged the seven year bond.

The issuer opened books on the €500m October 2027 at 2.875%. This was trimmed down to 2.625%, plus or minus 0.125% ...

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