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LONDON - ING Bank N.V. announced Tuesday it will act as Stabilizing Manager for BAWAG PSK Bank’s upcoming EUR-denominated green senior preferred bond offering, according to a press release statement.
The 8-year non-call 7-year (8NC7) green senior preferred securities are expected to be issued by BAWAG PSK Bank fuer Arbeit und Wirtschaft und Oesterreichische Postsparkasse AG. The stabilization period is scheduled to begin on August 26, 2025, and will continue for up to 30 days following the proposed issue date.
As part of its role, ING may over-allot securities or conduct transactions to support the market price of the securities at levels higher than might otherwise prevail, though there is no guarantee stabilization actions will be taken.
The announcement specified that any stabilization action or over-allotment will be conducted in accordance with applicable laws and rules.
The aggregate nominal amount of the offering was not disclosed in the announcement. The securities have not been registered under the United States Securities Act of 1933 and are not being offered in the United States.
The offering is directed at qualified investors within European Economic Area Member States that have implemented the Prospectus Directive, and to persons outside the United Kingdom or those in the UK with professional experience in investment matters.
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