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LONDON - J.P. Morgan Securities PLC has announced the completion of the post-stabilization period relating to the Province of British Columbia’s recent EUR 1.75 billion bond issuance. The 2040 EUR fixed rate notes, due on May 29, 2040, with a coupon of 3.500%, were listed on the Luxembourg Stock Exchange’s regulated market.
The stabilization period, a common practice following a securities offering to support the market price of the securities, did not involve any activity by the stabilization manager, J.P. Morgan Securities PLC, or its associates CACIB, DB, and RBC. The offer price for the bonds was set at 98.902.
Stabilization efforts, when undertaken, are subject to strict regulations to prevent market manipulation. In this instance, J.P. Morgan Securities PLC, acting as the stabilization coordinator, has confirmed that no such actions were required or performed.
The announcement clarifies that the securities have not been and will not be registered under the United States Securities Act of 1933. Consequently, the securities may not be offered or sold in the United States absent registration or an exemption from registration. Furthermore, there has not been and will not be a public offer of the securities in the United States.
This information, disseminated by RNS, the news service of the London Stock Exchange (LON:LSEG), is provided for informational purposes only. It does not constitute an offer to underwrite, subscribe for, or acquire securities in any jurisdiction, including the United States. The Financial Conduct Authority has approved RNS to act as a Primary Information Provider in the United Kingdom (TADAWUL:4280). Terms and conditions relating to the use and distribution of this information may apply.
Investors and market observers note that the successful close of the stabilization period without intervention suggests confidence in the Province of British Columbia’s fiscal position and the demand for its securities. The bond issuance and subsequent stabilization measures are based on a press release statement and do not imply any endorsement or evaluation of the securities’ investment potential.
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