Bullish indicating open at $55-$60, IPO prices at $37
MADRID - The Comunidad Autonoma de Madrid announced Thursday it plans to issue a senior unsecured 10-year euro benchmark bond maturing on October 31, 2035, according to a pre-stabilization notice.
Deutsche Bank AG (ETR:DBKGn) will serve as the stabilization coordinator for the offering, with Barclays (LON:BARC) Bank PLC, Deutsche Bank, Landesbank Baden-Württemberg, and Morgan Stanley & Co (NYSE:MS). International PLC acting as stabilization managers.
The stabilization period is expected to begin today and end no later than July 12, 2025. During this time, 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.
The bond will be issued under the ISIN code ES0201001197. The aggregate nominal amount and issue price have not yet been determined, according to the press release statement.
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. The offering is directed at qualified investors in the UK and European Economic Area in accordance with applicable regulations.
This bond issuance represents the latest debt financing activity for the Madrid regional government, which regularly accesses capital markets to fund its operations and investment programs.
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