LONDON - ING Bank N.V. has announced its role as the Stabilising Manager for the Hungarian government’s upcoming bond offerings. The bank may engage in stabilization activities starting today, to support the market price of the newly issued short 10-year and green 15-year Euro-denominated bonds.
Stabilization efforts, in accordance with Commission Regulation (EC) No. 2273/2003, are aimed at maintaining market prices post-issuance. The bank has the option to over-allot securities within legal limits to facilitate this process. However, ING has stated that there is no guarantee of stabilization action being taken, and if initiated, such actions may cease at any time within the 30-day window following the issue date.
The announcement clarifies that these stabilization measures and the bond offer are strictly for individuals outside the United Kingdom (TADAWUL:4280) or those within it who possess professional investment experience or are high net worth entities. It also emphasizes that the securities are not available in the United States and will not be registered under the U.S. Securities Act of 1933.
This initiative is part of Hungary’s efforts to engage in financial activities that support both the environment, through the issuance of green bonds, and the general funding needs of the country. The specific terms of the offering, such as the aggregate nominal amount and offer price, have not been disclosed.
The statement from ING Bank N.V. is informational and does not constitute an offer to underwrite or acquire securities. It is directed at a specific investor audience in compliance with financial promotion regulations.
The information regarding the stabilization activities and bond issuance is based on a press release statement from ING Bank N.V. and does not imply any promotion or endorsement of the securities or activities described.
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