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LONDON - J.P. Morgan S.E. has announced its role as the Stabilisation Coordinator for the Republic of Bulgaria’s recent bond issuance, with potential market stabilization activities commencing today. The securities in question include EUR 9-year and EUR 13-year fixed senior, unsecured bonds, which are to be listed on the Luxembourg exchange.
The stabilization period, which is expected to begin today, will last no longer than May 28, 2025. During this time, J.P. Morgan S.E., along with other appointed Stabilisation Managers including ING, Citigroup (NYSE:C), and Unicredit (BIT:CRDI), may engage in transactions to support the market price of the securities. This could involve over-allotting securities by up to 5% of the aggregate nominal amount or conducting other transactions with the aim of maintaining a market price above that which might otherwise naturally occur.
Stabilization actions, while permissible under the relevant regulation, are not guaranteed to take place and may be halted at any time. They are set to conclude either 30 days after the securities’ issue date or 60 days after the date of allotment, whichever comes first.
The purpose of such stabilization measures is to support the market price after the issuance of the securities, providing liquidity and mitigating price volatility. It’s a common practice in securities offerings, particularly in the context of large issuances or in volatile market conditions.
The offer and the related announcement are directed at specific individuals and entities outside the United Kingdom (TADAWUL:4280), as well as certain qualified investors within the UK, in accordance with local financial promotion rules and regulations. The securities have not been registered under the United States Securities Act of 1933 and are not intended for distribution in the United States, emphasizing the regional focus of the issuance.
This information, based on a press release statement, aims to provide transparency to the market regarding the potential stabilization activities associated with the Republic of Bulgaria’s bond offering.
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