Egypt launches bond stabilization effort coordinated by J.P. Morgan

LONDON - J.P. Morgan Securities PLC has announced its role as the Stabilisation Coordinator for the Arab Republic of Egypt's latest bond issuance, signaling the potential use of stabilization measures for a new series of senior unsecured notes listed on the London Stock Exchange (LON:LSEG).

The securities in question consist of USD 5-year and 8-year fixed senior unsecured notes, with the aggregate nominal amount described as a USD Benchmark. The offer price is to be confirmed, with additional terms including a standard denomination of $200,000 x $1,000.

The stabilization period commenced today, Tuesday, and is expected to last no longer than February 28, 2025. During this time, the stabilization managers, including Citigroup (NYSE:C) Global Markets Limited, Goldman Sachs International, HSBC Bank plc, Standard Chartered (OTC:SCBFF) Bank, and SMBC Bank International plc, alongside J.P. Morgan, may engage in transactions to support the market price of the securities.

These transactions could include the over-allotment of securities, not exceeding 5% of the aggregate nominal amount, and trading over the counter, with specific venues to be confirmed. It is important to note that stabilization activities are not guaranteed to occur and may end at any time within the specified period.

The announcement clarifies that this is not an offer to underwrite or acquire securities and is directed at persons outside the United Kingdom (TADAWUL:4280) or those within it who have professional investment experience or are high net worth individuals. Furthermore, the securities have not been registered under the United States Securities Act of 1933 and cannot be offered or sold in the United States without registration or an applicable exemption.

This stabilization notice is based on a press release statement and is intended for informational purposes only, providing a factual account of the Arab Republic of Egypt's intentions and the potential actions of the stabilization managers in connection with the securities offering.

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