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NEW YORK - Air Products and Chemicals (NYSE:APD), Inc has announced its intention to issue EUR 500 million in senior unsecured bonds with a seven-year maturity, to be listed on the New York Stock Exchange. J.P. Morgan Securities Plc, acting as the stabilization coordinator, has informed that the stabilization period for the offering began today, June 10, 2025, and is expected to conclude by July 10, 2025.
The stabilization process, which is a common practice in securities offerings, allows the stabilization managers to buy and sell the issuer’s securities post-issuance to reduce price volatility. The team of stabilization managers includes Barclays (LON:BARC), Credit Agricole (OTC:CRARY) CIB, Deutsche Bank (ETR:DBKGn), and Standard Chartered (LON:STAN), alongside J.P. Morgan.
During the stabilization period, the managers are permitted to over-allot securities by up to 5% of the aggregate nominal amount of the issue. This over-allotment option is a mechanism that can be employed to manage the supply and demand of the newly issued bonds effectively. However, there is no guarantee that stabilization will occur, as it is contingent on market conditions, and even if initiated, it can be discontinued at any time within the set timeframe.
The offer price and detailed terms of the bonds are yet to be confirmed. The issuance and the subsequent stabilization activities will be conducted in compliance with the Commission Delegated Regulation under the Market Abuse Regulation of the European Union.
This bond issuance and the potential stabilization activities are targeted at specific investors, including those outside the United Kingdom (TADAWUL:4280) or those within it who have professional investment experience or are high net worth individuals, as defined by the Financial Services and Markets Act 2000.
The announcement clearly states that these securities have not been registered under the United States Securities Act of 1933 and, as such, may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Therefore, there will not be a public offering of these securities in the United States.
The information disclosed is based on a press release statement and is intended for informational purposes only, not constituting an offer to underwrite, subscribe for, or acquire securities in any jurisdiction.
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