Volvo dips in to Europe’s ‘seized up’ bond markets

Swedish carmaker Volvo surprised investors this week by borrowing €500mn — a rare deal in Europe’s parched corporate bond markets that are pin-drop quiet even by summertime standards.

Investors placed €3.2bn worth of orders for the deal, which was one of just a handful to hit the market in several weeks. The amount raised in European corporate bonds so far this year has fallen to the lowest level in nearly 20 years, down 18 per cent…