EUR/USD likely to find a peak near 1.25: UBS
LISBON - Banco Comercial Português, S.A. announced Monday it will offer €500 million in unsecured and unsubordinated bonds, according to a pre-stabilization notice issued by J.P. Morgan SE.
The bonds will have a 6-year maturity with a call option after 5 years and will be listed on the Regulated Market of Euronext (EPA:ENX) Dublin. The offering will be available in denominations of €100,000.
J.P. Morgan SE will act as stabilization coordinator, while Banco Comercial Português, Goldman Sachs Bank Europe SE, IMI (LON:IMI) - Intesa Sanpaolo (OTC:ISNPY), and Morgan Stanley (NYSE:MS) will serve as stabilization managers.
The stabilization period is expected to begin June 16, 2025, and end no later than July 16, 2025. During this period, stabilization managers may over-allot securities by up to 5% of the aggregate nominal amount to support the market price.
The securities will be offered under Regulation S and will not be registered under the United States Securities Act of 1933, making them unavailable for sale in the United States.
The bonds are described as direct, unconditional, unsecured, and unsubordinated. The offer price has not yet been determined, according to the press release statement.
This bond issuance represents part of the Portuguese bank’s financing activities in European markets.
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