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FRANKFURT - grenke Finance PLC announced Tuesday it plans to issue a benchmark-sized long 3-year senior unsecured bond, according to a pre-stabilization notice released by Deutsche Bank AG, which will serve as the stabilization coordinator for the offering.
The euro-denominated bonds will be guaranteed by grenke AG. Initial price guidance for the offering indicates a spread of 190-200 basis points over mid-swaps, with the final aggregate nominal amount yet to be determined.
The securities will carry the ISIN code XS3175869737. Deutsche Bank will act as the stabilization manager for the offering, with the stabilization period expected to begin September 2, 2025, and end no later than October 21, 2025.
As part of standard market practice, the stabilization manager may over-allot securities or conduct transactions to support the market price of the securities during the stabilization period at levels higher than might otherwise prevail, though stabilization is not guaranteed to occur.
The bonds have not been registered under the United States Securities Act of 1933 and are not being offered in the United States. The offering is directed at qualified investors in accordance with applicable regulations in the European Economic Area and the United Kingdom.
This information was provided in a press release statement issued by Deutsche Bank AG as the stabilization coordinator for the offering.
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