BRUSSELS – The Kingdom (TADAWUL:) of Belgium has initiated a pre-stabilization period as of today, in anticipation of its imminent issuance of 10-year fixed-rate bonds, due June 22, 2035. JP Morgan SE has been appointed Stabilization Coordinator, with BNP Paribas (OTC: ) Fortis (NYSE:), Credit Agricole (OTC:) CIB, HSBC and Morgan Stanley (NYSE: ) acting as stabilization managers.
The total nominal amount for the new securities is set at the EUR Benchmark level, and the specific offered price has yet to be confirmed. The banknotes, which will be available in denominations and increments of EUR 0.01, will be listed on the Brussels Stock Exchange.
The stabilization period, which begins today, is expected to last until February 7, 2025. During that time, the stabilization managers are authorized to redistribute securities up to 5% above the total nominal amount. These actions are intended to support the market price of securities after issuance and may include transactions to maintain prices above market levels. However, there is no guarantee that stabilization activities will proceed, and if initiated, they may be terminated at any time within the prescribed time frame.
This stabilization move is in line with Commission Delegated Regulation EU/xxx/2016 under the Market Abuse Regulation (EU/596/2016). Over-allotment and stabilization transactions, if implemented, will be done over the counter and seats will be confirmed.
The statement clarifies that this information is solely for those with professional investment experience or UK high net worth individuals and should not be relied upon by other UK residents. Similarly, within the European Economic Area (EEA), only those who are qualified investors as defined by the Prospectus Directive or those to whom the offer has been legally addressed should act on this information.
This strategic financial maneuver is based on a public statement and provides insight into the Kingdom of Belgium’s approach to managing new debt issuance in the current economic climate.
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