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LONDON - J.P. Morgan Securities PLC, acting as the Stabilisation Coordinator, has announced potential market stabilization activities related to the African Development Bank’s upcoming securities offer. The bank is set to issue USD 3 billion in fixed-rate notes, with USD 2 billion due in 2028 and USD 1 billion due in 2035, both to be listed on the Luxembourg Stock Exchange’s Regulated Market.
The stabilization period commenced today and is expected to last no longer than July 3, 2025. During this time, J.P. Morgan, along with BOFA, BNPP, Nomura, and WFS as Stabilisation Managers, may engage in transactions to support the market price of the securities.
These transactions could include over-allotment of securities, not exceeding 5% of the aggregate nominal amount, or other measures aimed at maintaining market prices at levels higher than those that might otherwise prevail. However, there is no guarantee that stabilization will occur, and if initiated, it can be discontinued at any time within the set timeframe.
The offer details, including the coupon and offer price for the securities, are yet to be confirmed. The denominations for the offer are set at USD 1,000. This announcement is aimed at informing potential investors and is not an offer or invitation to underwrite or acquire securities.
The stabilization activities are in line with the Commission Delegated Regulation EU/xxx/2016 under the Market Abuse Regulation (EU/596/2016). It is important to note that the information provided is based on a press release statement and is for informational purposes only. The 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 local regulations.
Investors are advised that any stabilization efforts by the Stabilisation Managers will adhere to strict regulatory standards to ensure market integrity. The final outcome of these activities will be closely watched by the market participants for indications of investor appetite and market sentiment towards the African Development Bank’s securities.
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