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News May 19, 2016

Shearman & Sterling Advises on Volvo’s Debut Senior Notes Offering

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.  

The Shearman & Sterling team of lawyers in the firm’s London, Washington D.C. and New York offices included capital markets partner Jacques McChesney; associates Yaw Asare, Joe Payne and Ignacio Alvarez Couso; and tax partner Kristen Garry and associate Adam Sternberg. Counsel Mehran Massih advised on environmental aspects of the transaction.