Shearman & Sterling advised the joint bookrunners, led by Barclays and HSBC, on Volvo’s debut €500 million offering of senior notes. The notes bear an interest rate of 3.25% and are due in 2021. The proceeds of the offering will be used for Volvo’s general corporate purposes.
Volvo is a global premium automobile manufacturer based and headquartered in Sweden. It sells a range of premium vehicles, including sedans, wagons, sportswagons, cross-country vehicles and SUVs in over 100 countries worldwide. Established in 1927, Volvo is owned by Zhejiang Geely Holding Group Co. Ltd.