Volvo Cars successfully places first green bond and raises EUR 500m
Volvo Cars today successfully placed its first green bond, raising EUR 500m from a diverse group of institutional investors and further increasing the company’s financial flexibility.
The proceeds of the bond will be used to fund the design, development and manufacturing of fully electric cars in line with the company’s recently established Green Finance Framework.
The bond issue was oversubscribed 5 times, illustrating both the current market demand for green investment products and the financial community’s strong confidence in Volvo Cars’ strategy.
Sep 30, 2020 at 18:15