Shearman & Sterling advised DNB Bank ASA, Sweden Branch, Nordea Bank Danmark A/S and Swedbank AB (publ), in their capacity as joint lead managers, on Volvo Car AB’s (“Volvo”) SEK 2.5 billion (approx. €256 million) of senior floating rate notes due 2022 and SEK 500 million (approx. €51 million) of 2.500% senior fixed rate notes due 2022. 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.