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MADRID - J.P. Morgan SE announced Wednesday it has begun acting as stabilisation coordinator for Via Celere Desarrollos Inmobiliarios S.A.’s benchmark euro-denominated senior secured notes offering.
The Spanish real estate developer is issuing EUR 5.5-year notes with a 2-year non-call period. The stabilisation period commenced on September 24 and is expected to continue until October 26, according to a statement based on a company press release.
As part of the stabilisation process, J.P. Morgan may over-allot securities by up to 5% of the aggregate nominal amount and conduct transactions to support the market price at levels higher than might otherwise prevail.
The notes will be offered in denominations of EUR 100,000 and are expected to be listed on the Irish Stock Exchange, trading as Euronext Dublin.
The securities will be available through 144A/Regulation S offerings, targeting qualified institutional buyers. J.P. Morgan noted that stabilisation activities may not necessarily occur and could cease at any time, but must end no later than 30 days after the issue date or 60 days after allotment.
The announcement specified that the securities have not been registered under the U.S. Securities Act of 1933 and will not be offered or sold in the United States without registration or an exemption.
Rishik Arya at J.P. Morgan is listed as the contact for the stabilisation coordination.
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