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PARIS - French real estate company Icade (EPA:ICAD) completed its €500 million bond offering without requiring market stabilization measures, according to a statement released by Societe Generale (OTC:SCGLY) on Thursday.
The 10-year bonds, maturing on May 22, 2035, carry a 4.375% coupon and were priced at 98.642% of face value. Societe Generale, which served as the stabilization manager for the transaction, confirmed that no stabilization actions were undertaken during the offering period.
Stabilization measures, which typically involve the temporary purchase of securities to prevent price declines during the initial offering period, were not necessary for this issuance. The stabilization period had been expected to run from May 15 to May 20, 2025.
The announcement indicates the bond offering achieved sufficient market demand without requiring intervention to support its price.
Icade, a major player in the French property sector, issued the bonds as part of its ongoing financing activities. The company did not provide specific details about how it intends to use the proceeds from the bond sale.
The securities have not been registered under the United States Securities Act and are not being offered in the U.S. market, according to the statement.
This information is based on a post-stabilization announcement released through the London Stock Exchange (LON:LSEG)’s news service.
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