Volvo Cars refinances SEK5 billion of existing preference shares
Volvo Cars has issued SEK5 billion worth of convertible preference shares to a group of Swedish institutional investors, comprising Swedish pension fund AMF and Swedish insurance and pension savings group Folksam.
The preference shares may be repurchased or converted into common shares of Volvo Car AB. The proceeds from the preference shares will be used by Volvo Cars to refinance the existing SEK5 billion worth of preference shares, which were issued in December 2016.
Jan 28, 2020 at 01:27