LONDON - J.P. Morgan S.E. has announced the commencement of a stabilisation period for Enel (BIT:ENEI) SpA’s new securities, starting today and potentially running until February 7, 2025. The securities in question are EUR Perpetual-Non-Call-5.25-year and EUR Perpetual-Non-Call-8-year fixed-rate subordinated notes, which are to be listed on Euronext (EPA:ENX) Dublin.
The stabilisation process, which is governed by EU market regulations, permits the Stabilising Manager(s) to over-allot securities by up to 5% of the aggregate nominal amount, in an effort to support the market price of the securities post-issuance. The over-allotment can result in the total allotted amount reaching 105% of the initial aggregate principal amount of the offered securities.
The stabilisation action is coordinated by J.P. Morgan S.E., with a consortium of banks acting as stabilisation managers, including BNP Paribas (OTC:BNPQY), BofA Securities, Citi, Deutsche Bank (ETR:DBKGn), Goldman Sachs International, HSBC, IMI-Intesa Sanpaolo, MUFG, Societe Generale (OTC:SCGLY), SMBC, and UniCredit.
While the stabilisation measures aim to maintain the market price of the securities, there is no guarantee that stabilisation will occur, or that it will continue for the full expected duration. If initiated, stabilisation may cease at any time but must end by the prescribed deadline, which is the earlier of 30 days post-issue date or 60 days post-allotment.
The announcement clarifies that this information serves solely as a notice and does not constitute an offer to underwrite, subscribe for, or acquire securities. The offer is directed at persons outside the United Kingdom (TADAWUL:4280) or those within the UK who have professional investment experience or are high net worth individuals, as defined by local regulations.
The securities have not been and will not be registered under the United States Securities Act of 1933 and thus cannot be offered or sold within the United States absent registration or an exemption from registration. Consequently, there will be no public offering of these securities in the United States.
This statement is based on a press release and is intended for informational purposes only.
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