Brief: Volvo Cars Converts Part Of Outstanding Loan To Polestar Into Equity
31/03/2026 08:04
March 31 (Reuters) - Volvo Car AB VOLCARb.ST: CONVERTS PART OF OUTSTANDING LOAN TO POLESTAR INTO EQUITY CARS STAKE IN POLESTAR TO INCREASE FROM 9.8% TO 19.9% AFTER USD 274 MILLION CONVERSION GEELY SWEDEN HOLDINGS AB EXPECTED TO CONVERT USD 300 MILLION DEBT TO EQUITY IN POLESTAR CARS TO CONVERT USD 65 MILLION TO MAINTAIN 19.9% STAKE IN POLESTAR INITIAL CONVERSION EFFECTIVE MARCH 31, 2026; SECOND CONVERSION EXPECTED Q2 2026 TOTAL OUTSTANDING LOAN PRIOR TO DEALS AMOUNTED TO USD 1 BILLION, MATURITY IN 2028 REMAINING LOAN ESTIMATED AT USD 661 MILLION; USD 339 MILLION CONVERTED TO CLASS A SHARES IN POLESTAR LOAN MATURITY EXTENDED TO DECEMBER 2031 IN CONJUNCTION WITH INITIAL CONVERSION Source text: ID:nWkr4YmjQ Further company coverage: [VOLCARb.ST] (Gdansk Newsroom) ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))