Microvast Holdings announces departure of chief financial officer
LONDON - J.P. Morgan Securities PLC announced today that it did not undertake any stabilisation actions for Zurich Finance (Ireland) II DAC’s recent securities offering. The announcement follows a pre-stabilisation notice dated May 15, 2025, and is in accordance with the Market Abuse Regulation and Financial Conduct Authority rules.
The securities in question, USD Fixed Rate Reset Subordinated Notes with an aggregate nominal amount of USD 750 million, were listed on the Luxembourg exchange. The notes were offered at 100% reoffer price, with Zurich Insurance Company Ltd acting as the guarantor.
Stabilisation managers for the offering included HSBC, Credit Agricole (OTC:CRARY) CIB, and Deutsche Bank (ETR:DBKGn), alongside J.P. Morgan Securities PLC as the stabilisation coordinator. Stabilisation activities are measures taken by underwriters to support the market price of securities immediately following an offering to prevent or retard a decline in their market price.
The information provided in this announcement is based on a press release statement and is for informational purposes only. It does not constitute an invitation or offer to underwrite, subscribe for, or otherwise acquire or dispose of any securities of the issuer in any jurisdiction.
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