Volvo sets final talk on €600 million five-year notes at mid-swaps plus 215 bps; pricing Tuesday

By Paul A. Harris

Portland, Ore., March 26 – Volvo Car AB set final guidance on a €600 million offering of five-year senior notes (Ba1/BB+) at a 215 basis points spread to mid-swaps, according to market sources.

Final talk comes 25 bps below initial talk of mid-swaps plus 240 bps, a source said, adding that the deal was heard to be playing to €2 billion of demand.

Citigroup is the lead.

The notes are non-callable.

Goteborg, Sweden-based car-maker plans to use the proceeds for general corporate purposes.

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