Comments: CHF225m(upsized from 175m) 3yr fxd cpn 0.5225% at par. Spread: SARON MS+50 / Govt + 66.2. Par Call: 1m. PP: Yes. NP: Yes. XD: Yes;
Comments: CHF100m(upsized from 125m) 6yr fxd cpn 0.88% at par. Spread: SARON MS+60 / Govt + 79.5. Par Call: 3m. PP: Yes. NP: Yes. XD: Yes;
Deal Comments
Reoffer: 3yr: MS+50 / 100 / 0.5225% 6yr: MS+60 / 100 / 0.88%
Benchmark: 3yr: Govt +66.2 6yr: Govt +79.5
Launched: 3yr: CHF 225m @ MS+50bp 6yr: CHF 125m @ MS+60bp
Guidance: 3yr: MS+50bp 6yr: MS+60bp
IPTs: 3yr: MS+50/55bp 6yr: MS+60/65bp
Issuer: Volvo Treasury AB (Ticker: VLVY)
Guarantor: AB Volvo
Guarantor Domicile: Sweden
Domestic / Foreign: Foreign
Format: Public Fixed-Rate Notes
Ranking: Senior unsecured
Guarantor Rating: Moody's: A2 (stable), S&P: A (stable)
Instrument Rating (exp): Moody's: A2, S&P: A
Issue Size:
3yr: CHF 225m
6yr: CHF 125m
Settlement Date: 16-Feb-26
Maturity:
3yr: 16-Feb-29
6yr: 16-Feb-32
Coupon:
3yr: 0.5225% (1-month par call) (30/360, following unadj.)
6yr: 0.8800% (3-month par call) (30/360, following unadj.)
Spread/Yield:
3yr: SARON MS +50.0 // YTM 0.5225% // Govt + 66.2
6yr: SARON MS +60.0 // YTM 0.8800% // Govt + 79.5
Issue Price: 100
ISIN / Valor:
3yr: CH1530340244 / 153.034.024
6yr: CH1530340251 / 153.034.025
Lead Manager(s): Deutsche Bank
SNB Repo-eligibility: At the discretion of the SNB, expected no
Documentation: Off Volvo Treasury AB’s EMTN Programme dated 7-May-25, as supplemented
FinSA Prospectus: Base prospectus is deposited with and recognised by the SIX Prospectus Office. Final terms available in accordance with art. 45 FinSA
Governing Law: English law
Covenants: PP, NP, XD
SIX Listing: 13-Feb-26
Denomination: CHF 100,000 and multiples thereof
Selling Restrictions: United States and US persons, European Economic Area, United Kingdom, Singapore, Japan and France, in each case as described in the Issuer’s EMTN Programme Base Prospectus; public offer in Switzerland
Target Market: As defined by the manufacturer domiciled in the EEA (MIFID II): Eligible counterparties and professional clients only (all channels for distribution), subject to applicable selling restrictions. Prohibition of sales to EEA/UK retail investors apply.