Bullish indicating open at $55-$60, IPO prices at $37
LONDON – BNP Paribas (OTC:BNPQY) announced today that no stabilisation measures were taken in relation to Ball Corporation (NYSE:BALL)’s recent securities offering. The announcement follows the completion of the offering period, which was managed by a consortium of banks including BNP Paribas.
Ball Corporation, a provider of metal packaging for beverages, foods, and household products, has successfully issued an aggregate nominal amount of €850 million in 7-year notes. The notes are guaranteed by substantially all of Ball Corporation’s domestic subsidiaries that guarantee its existing indebtedness, while none of its foreign subsidiaries have provided guarantees.
The group of stabilisation managers, led by BNP Paribas and including other major financial institutions such as Deutsche Bank (ETR:DBKGn), Credit Agricole (OTC:CRARY) CIB, UniCredit, Bank of America, Citigroup (NYSE:C), Goldman Sachs, Rabobank, Santander (BME:SAN), Mizuho, Morgan Stanley (NYSE:MS), SMBC, Barclays (LON:BARC), and HSBC, collectively decided against taking any stabilisation actions during the offering period.
Stabilisation activities are measures taken by underwriters to support the price of a security after its initial offering to prevent or mitigate price declines. The absence of such actions indicates that the underwriters did not see the need to intervene in the market to support the price of the securities.
The securities mentioned have not been registered under the United States Securities Act of 1933 and, as such, may not be offered or sold within the United States absent registration or an exemption from registration requirements. There will not be a public offering of these securities in the United States.
This announcement serves as a post-stabilisation period notice and is strictly for informational purposes. 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. The information is based on a press release statement.
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