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FRANKFURT - Commerzbank AG (OTC:CRZBY) has disclosed plans for potential stabilization activities related to its issuance of undated non-cumulative fixed to reset additional tier 1 notes, which are expected to commence today. The stabilization, if executed, aims to support the market price of the securities post-issuance.
The bank has appointed itself as the Stabilisation Coordinator, with Deutsche Bank (ETR:DBKGn), HSBC, and ING serving as Stabilising Managers. The securities, which are yet to have a determined offer price, are described as EUR-denominated benchmark Reg S PerpNC-Apr 2033 and are expected to receive a Ba2/BB rating from Moody’s and S&P, respectively.
The stabilization period is set to begin today, May 27, 2025, and will not extend beyond 30 days after the securities are issued. During this time, the Stabilising Managers may over-allot securities or engage in transactions to maintain the market price above levels that might otherwise prevail. However, there is no guarantee that stabilization will occur, and if initiated, it may end at any time.
All stabilization transactions will be conducted in accordance with applicable laws and rules and will take place on the Luxembourg Stock Exchange’s regulated market.
This announcement serves as a pre-stabilisation notice and is intended for informational purposes only. It does not represent an offer to underwrite, subscribe for, or acquire any securities of the Issuer. Furthermore, the notice is not for distribution in the United States or any jurisdiction where such distribution would be unlawful.
The information in this article is based on a press release statement from Commerzbank AG.
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