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FRANKFURT - The European Union (EU) announced today the start of a stabilization period for its new €6 billion bond offering, according to a press release from DZ BANK AG, which will serve as the Stabilization Coordinator for the transaction.
The 3.625% notes, maturing on December 12, 2040, are being offered at a price of 99.518%. The stabilization period is expected to begin today and continue for up to 30 days after the proposed issue date.
DZ BANK will lead the stabilization efforts alongside other appointed Stabilizing Managers including Banco Santander, Citibank, Deutsche Bank, and BNP Paribas. The stabilization trading will take place on the Luxembourg Stock Exchange.
As part of the stabilization process, the managers may over-allot securities or conduct transactions to support the market price of the securities at levels higher than might otherwise prevail, though there is no guarantee that any stabilization action will be taken.
The bonds carry the ISIN code EU00A4EJF17 and feature fixed annual interest payments calculated on an Act/Act basis.
This bond issuance represents part of the EU’s ongoing debt management activities. All stabilization activities will be conducted in accordance with applicable laws and regulations, including Commission Delegated Regulation (EU) 2016/1052 under the Market Abuse Regulation (EU Regulation 596/2014).
The announcement specifies that the offering is directed at qualified investors within the meaning of the Prospectus Directive in EEA Member States where applicable.
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