LONDON - J.P. Morgan S.E announced today that it will begin stabilization measures for Novo Banco S.A's newly offered securities, which may include over-allotment to support the market price. As the stabilization coordinator, J.P. Morgan S.E, along with other stabilization managers including BofA Securities, Deutsche Bank (ETR:DBKGn), Societe Generale (OTC:SCGLY), and UBS Investment Bank, will oversee the process for the EUR 500 million securities offering.
The securities in question are EUR 6-Non-Call-5-year Fixed/Floating Rate Callable Senior Preferred Notes, which are set to be listed on Interbolsa and Euronext (EPA:ENX) Dublin. The offer price is to be confirmed, with terms indicating a significant transaction size of EUR 100,000 x 100,000.
Stabilization, which is subject to relevant regulations, is slated to commence today, with the possibility of extending until February 15, 2025. During this period, the stabilization managers may over-allot securities by up to 5% of the aggregate nominal amount. These actions are intended to maintain pricing stability in the aftermarket of the securities issuance.
The stabilization transactions will occur over the counter, with specific venues to be confirmed. It's important to note that stabilization activities may not necessarily take place and can end at any time within the stipulated period. The maximum size and conditions of use of the over-allotment facility have been outlined, ensuring that the total securities allotted will not exceed 105 percent of the aggregate principal amount.
This announcement serves as an informative statement and is not an invitation or offer to underwrite, subscribe for, or otherwise acquire or dispose of any securities of Novo Banco S.A. The securities have not been registered under the United States Securities Act of 1933 and, consequently, may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of these securities in the United States.
The information disclosed is based on a press release statement and is directed at individuals outside the United Kingdom (TADAWUL:4280) or those within it who possess professional investment experience or are high net worth entities. This directive also applies to qualified investors in any EEA Member State in accordance with the Prospectus Directive.
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