US LNG exports surge but will buyers in China turn up?
LONDON - The Republic of Iceland, through J.P. Morgan SE as the Stabilisation Coordinator, has announced the initiation of a pre-stabilisation period starting today, with potential market stabilisation actions for its upcoming fixed rate notes due May 27, 2030. The notes, with an aggregate nominal amount described as a EUR Benchmark, will be offered with a yet-to-be-confirmed coupon and will be listed on the London exchange.
The stabilisation period, which begins today, is expected to last no longer than one month, ending by June 20, 2025. During this time, J.P. Morgan SE alongside Barclays (LON:BARC), BNPP, and Citi, acting as Stabilisation Managers, may over-allot the securities or engage in transactions to support the market price of the securities. The total over-allotment will not exceed 5% of the aggregate nominal amount of the securities.
This stabilisation mechanism is designed to provide liquidity and to maintain a stable market price post-issuance. However, there is no guarantee that stabilisation will occur, and if it does commence, it can be discontinued at any time within the specified period.
The offer and the securities are directed at persons outside the United Kingdom (TADAWUL:4280) and to those within the UK who have professional investment experience or are high net worth individuals, as specified under the Financial Services and Markets Act 2000. Furthermore, in European Economic Area Member States, the offer is addressed to qualified investors as defined by the Prospectus Directive.
It is important to note that the securities have not been and will not be registered under the United States Securities Act of 1933. Consequently, they cannot be offered or sold within the United States absent registration or an exemption from registration, and there will be no public offer of these securities in the United States.
This announcement is based on a press release statement and is intended for informational purposes only, not constituting an offer to underwrite, subscribe for, or acquire any securities.
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