LONDON - J.P. Morgan Securities PLC announced today that as the Stabilisation Coordinator, it may engage in transactions to stabilize the offering of securities by the Africa Finance Corporation (AFC). The AFC's issuance includes Perpetual-Non-Call-5.25-year Deeply Subordinated Fixed Rate Reset Notes, with the aggregate nominal amount described as USD Benchmark. This potential stabilisation activity is in accordance with the Market Abuse Regulation (EU/596/2016) and Commission Delegated Regulation EU/xxx/2016.
The stabilisation period commenced today, Monday, and is expected to continue until no later than February 13, 2025. The specific terms of the offer, including the offer price, have yet to be determined but will involve securities of USD 200,000 x 1,000. The securities are to be listed on both the Irish Stock Exchange and the London Stock Exchange (LON:LSEG).
The stabilisation efforts will be undertaken by J.P. Morgan Securities PLC, alongside BofA Securities, Emirates NBD Capital, Mashreq, MUFG, and Societe Generale (OTC:SCGLY), all acting as Stabilisation Managers. The stabilisation actions may include over-allotments of securities not exceeding 5% of the aggregate nominal amount, and transactions aimed at supporting the market price of the securities. However, there is no guarantee that stabilisation will occur, and if initiated, it may stop at any time.
The announcement clarifies that the stabilisation trading venue will be over the counter, with details to be confirmed. It also notes that any stabilisation action must end no later than 30 days after the issue date of the securities and 60 days after the date of allotment.
The offer and the potential stabilisation actions are directed at persons outside the United Kingdom (TADAWUL:4280) or those within the UK who have professional experience in investment matters or are high net worth individuals, as defined by the Financial Services and Markets Act 2000.
The announcement also states that the securities have not been and will not be registered under the United States Securities Act of 1933. Therefore, they may not be offered or sold in the United States without registration or an exemption from registration. There will be no public offer of the securities in the United States.
This information is based on a press release statement and is intended for informational purposes only. It is not an invitation or offer to underwrite, subscribe for, or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.
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