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BCP V Modular Services Finance II to issue EUR benchmark senior notes

Published 02/07/2025, 09:30
BCP V Modular Services Finance II to issue EUR benchmark senior notes

LONDON - BCP V Modular Services Finance II PLC announced Wednesday it plans to issue a benchmark-sized euro-denominated senior secured notes offering, according to a stabilization notice released by J.P. Morgan Securities plc.

The 6-year non-call 2 notes will be listed on the International Stock Exchange. The stabilization period is expected to begin July 2 and end no later than August 2, 2025.

J.P. Morgan Securities plc will serve as the stabilization coordinator, with Morgan Stanley (NYSE:MS), BofA, Santander (BME:SAN), Goldman Sachs, Wells Fargo (NYSE:WFC), HSBC, ING, SocGen, and Brookfield acting as stabilization managers.

The stabilization managers may over-allot securities in an amount not exceeding 5% of the aggregate nominal amount to support the market price of the securities, though stabilization is not guaranteed to occur.

The notes will be offered in denominations of €100,000 with increments of €1,000. The offer price has yet to be determined.

According to the press release statement, the securities have not been and will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration.

The announcement specifies that the offer is directed only at qualified investors in EEA Member States that have implemented the Prospectus Directive, and in the United Kingdom (TADAWUL:4280), only to persons with professional investment experience or high net worth individuals.

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