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MADRID - Spanish department store group El Corte Inglés, S.A. announced Friday that no market stabilisation measures were undertaken following its recent €500 million bond issuance.
J.P. Morgan S.E., acting as stabilisation coordinator, confirmed that no stabilisation activities were performed for the 8-year euro-denominated bonds, according to a statement released by the company.
The bonds were priced at 98.515% and will be listed on Euronext (EPA:ENX) Dublin. The securities were issued under Regulation S in bearer form with a New Global Note structure.
Several major financial institutions participated as stabilisation managers alongside J.P. Morgan, including Barclays, BBVA (BME:BBVA), BofA Securities, Caixabank, Citigroup (NYSE:C), and Goldman Sachs.
Stabilisation is a process where underwriters may intervene in the market following a new issuance to prevent the price from falling below the issue price. In this case, such intervention was not necessary.
The announcement follows a pre-stabilisation notice issued on July 17, 2025. The bonds were offered outside the United States in compliance with applicable securities regulations.
El Corte Inglés is one of Spain’s largest department store groups, operating retail locations throughout the country. The company did not specify the intended use of the proceeds from this bond offering in the press release statement.
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