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FRANKFURT - German media conglomerate Bertelsmann SE & Co. KGaA is preparing to issue a benchmark 8-year euro-denominated bond, according to a pre-stabilization notice released Tuesday.
Deutsche Bank AG will serve as the stabilization coordinator for the offering, which is expected to begin its stabilization period on Tuesday. The initial price guidance for the bonds is set at approximately 135 basis points over the mid-swap rate.
The bond carries the ISIN code XS3209539520, with BofA Securities, Deutsche Bank, HSBC, NatWest, and Santander appointed as stabilization managers. The stabilization period is scheduled to run until December 2, 2025, at the latest.
During this period, stabilization managers may over-allot securities or conduct transactions to support the market price of the securities at levels higher than might otherwise prevail, though stabilization is not guaranteed to occur.
The aggregate nominal amount of the bond offering has yet to be determined, according to the press release statement.
Bertelsmann, one of Europe’s largest media companies, operates across publishing, broadcasting, music, and services sectors. The company has not specified how it intends to use the proceeds from this bond issuance.
The securities have not been registered under the United States Securities Act of 1933 and will not be offered or sold in the United States.
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