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AMSTERDAM - ING Bank N.V. announced Monday it may act as Stabilising Manager for ASN Bank N.V.’s upcoming 7-year euro-denominated securities offering, according to a press release statement.
The stabilisation period is expected to begin today and continue for up to 30 days following the proposed issue date. During this time, ING Groep may engage in transactions designed to support the market price of the securities at levels higher than might otherwise prevail.
As part of the stabilisation measures, ING may over-allot securities to the extent permitted by applicable law, though the bank noted there is no assurance that any stabilisation action will be taken.
The announcement specified that any stabilisation action or over-allotment would be conducted in accordance with all applicable laws and rules, including Commission Regulation (EC) No. 2273/2003 implementing the Market Abuse Directive.
The securities have not been registered under the United States Securities Act of 1933 and will not be offered in the United States. The offering is primarily directed at qualified investors in European Economic Area Member States that have implemented the Prospectus Directive, and to certain categories of investors outside the United Kingdom.
No specific details regarding the aggregate nominal amount or offer price of the securities were disclosed in the announcement.
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