Volvo Dangles Hefty New-Bond Premium That Has Buyers Piling In

Volvo Treasury AB, the financing arm of the vehicle maker and one of Sweden’s biggest corporate-bond issuers, pulled in more than 3 billion euros ($3 billion) of bids for a 500 million-euro note — a coverage ratio of six times, according to a person with knowledge of the matter, who asked not to be identified as the information is private. The demand allowed Volvo to slash the spread offered to buyers at a time when sales of corporate debt in Europe are plunging and markets are recovering from the steep bond selloffs earlier this year.

Source link