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LONDON - J.P. Morgan SE has initiated a pre-stabilization period for ENEL FINANCE INTERNATIONAL N.V.'s newly offered securities, as disclosed on Monday. The stabilization measures, which are in compliance with EU market regulations, are aimed at supporting the market price of the securities post-issuance.
The securities in question, guaranteed by ENEL - Società per Azioni, include benchmark-sized tranches with maturities of three, six, and eleven years. These senior, unsecured, negotiable government notes will be listed on Euronext (EPA:ENX) Dublin and are targeted at professional investors and high net worth individuals in the United Kingdom (TADAWUL:4280), as well as qualified investors in the European Economic Area.
The stabilization period, coordinated by J.P. Morgan SE, began today and is slated to conclude by March 17, 2025. During this time, the Stabilisation Manager(s) may engage in transactions to maintain the securities' market price above levels that might otherwise prevail in the open market. However, such interventions are not guaranteed and may end at any time within the stipulated period.
The Stabilisation Manager(s), which include prominent financial institutions such as Banca Akros, BBVA (BME:BBVA) International, and Goldman Sachs Bank Europe SE among others, are also authorized to over-allot securities up to 5% above the aggregate nominal amount. This over-allotment is a common practice used to manage potential price volatility during the stabilization period.
The announcement clarifies that these securities have not been and will not be registered under the United States Securities Act of 1933, and as such, will not be offered or sold in the United States absent an exemption from registration requirements. There will be no public offering of these securities in the United States.
This move by J.P. Morgan SE is a routine financial operation aimed at ensuring a stable market introduction for ENEL FINANCE INTERNATIONAL N.V.'s securities. The information is based on a press release statement and is intended for professional investors who understand the risks associated with such investments.
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