Volvo Cars has successfully placed its first green bond, raising over $800 million 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. A report will be issued annually to provide full transparency to investors.
The bond issue was oversubscribed five times, illustrating both the current market demand for green investment products and the financial community's strong confidence in Volvo Cars' strategy.
