Hamburg Commercial Bank AG sets price range for EUR 5-year bond

FRANKFURT - Hamburg Commercial Bank AG (HCOB) has announced the price range for a new EUR 5-year Senior Preferred (SP) bond, with initial price thoughts (IPTs) set at mid-swap (MS) plus 150 basis points area. The announcement was made by Deutsche Bank AG (NYSE:DB), Frankfurt, serving as the Stabilisation Coordinator, on January 22, 2025.

The bank has not yet disclosed the aggregate nominal amount for the bond, which has been assigned the International Securities Identification Number (ISIN) DE000HCB0CC8. The stabilization period, during which the price of the securities may be supported, is expected to start today and could last until March 5, 2025.

A consortium of banks, including Citi, Crédit Agricole CIB, Deutsche Bank (ETR:DBKGn), Jefferies, and Morgan Stanley (NYSE:MS), has been appointed as Stabilising Managers. These institutions may over-allot securities or undertake transactions intended to maintain the market price of the bonds at levels above those that might otherwise prevail in the market. However, there is no guarantee that stabilization activities will take place, and if initiated, they can be discontinued at any time.

The announcement clarifies that any stabilization actions or over-allotment must be conducted in compliance with all applicable laws and rules. The specific trading venues for stabilization have yet to be confirmed.

This pre-stabilisation period announcement is intended for informational purposes only and does not serve as an invitation or offer to underwrite, subscribe for, or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction. The securities are being offered only to qualified investors and certain other persons in accordance with the Prospectus Regulation of the European Union and the UK Prospectus Regulation, as applicable.

The securities mentioned in this announcement have not been, and will not be, registered under the United States Securities Act of 1933 and, therefore, may not be offered or sold in the United States absent registration or an exemption from registration. This also means that there will be no public offer of the securities in the United States.

The information provided in this article is based on a press release statement, ensuring an unbiased presentation of the facts surrounding Hamburg Commercial Bank AG's new bond issuance.

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