By Andrea Heisinger
New York, Sept. 29 - Volvo Treasury AB priced an upsized $750 million of 5.95% notes due April 1, 2015 on Tuesday to yield Treasuries plus 365 basis points, an informed source said.
The size was initially $500 million, he said.
The Rule 144A notes (Baa2/BBB/BBB) priced at 99.807 to yield 5.992%. They have a make-whole call at Treasuries plus 50 bps.
Bookrunners were Bank of America Merrill Lynch and Citigroup Global Markets Inc.
The unit of truck and commercial vehicle maker AB Volvo is based in Gothenburg, Sweden.
| Issuer: | Volvo Treasury AB
|
| Issue: | Notes
|
| Amount: | $750 million, increased from $500 million
|
| Maturity: | April 1, 2015
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets Inc.
|
| Coupon: | 5.95%
|
| Price: | 99.807
|
| Yield: | 5.992%
|
| Spread: | Treasuries plus 365 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Distribution: | Rule 144A
|
| Trade date: | Sept. 29
|
| Settlement date: | Oct. 6
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
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