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LUXEMBOURG - J.P. Morgan SE announced Thursday that no stabilisation activities were undertaken for Banque Internationale à Luxembourg’s (BIL) recent bond offering, according to a post-stabilisation notice.
The Luxembourg-based bank issued €200 million in 11.25-year-Non-Call-6.25-year Subordinated Notes, which are listed on the Luxembourg Stock Exchange. The notes were offered at a price of 99.480%.
J.P. Morgan SE served as the stabilisation coordinator for the transaction, with Jefferies acting as stabilisation manager. The announcement follows a pre-stabilisation period notice dated October 22.
Stabilisation activities, which are permitted under EU market abuse regulations and Financial Conduct Authority rules, are interventions that aim to support the market price of securities during their initial offering period. In this case, the stabilisation managers determined such measures were not necessary for BIL’s bond issuance.
The subordinated notes represent a form of debt that ranks below other loans or securities with respect to claims on assets or earnings in case of default.
This information was provided in a regulatory announcement distributed through the London Stock Exchange’s news service.
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