EU and US could reach trade deal this weekend - Reuters
LONDON - J.P. Morgan Securities plc has concluded the post-stabilisation period for OCP S.A, a prominent issuer of securities, without undertaking any stabilisation actions. The firm, acting as the Stabilisation Manager alongside Citi, made the announcement today, following a pre-stabilisation notice issued on Sunday.
The securities in question consisted of USD 5-year fixed senior unsecured notes, with an aggregate nominal amount of USD 750 million, and USD long 10-year fixed senior unsecured notes, totaling USD 1 billion. These offerings were listed on the Dublin Stock Exchange and attracted significant investor attention due to their strategic issuance.
Despite the potential for market stabilization measures, which are typically employed to support the market price of securities immediately after their launch, J.P. Morgan reported that no such activities were necessary during the post-stabilisation phase for OCP S.A’s securities. The offer prices were set at 99.006 percent with a yield of 6.335 percent for the 5-year notes, and 98.027 percent with a yield of 6.964 percent for the long 10-year notes.
Stabilisation efforts are regulated under Article 3.2(d) of the Market Abuse Regulation (EU/596/2014) and the rules of the Financial Conduct Authority, ensuring transparency and fairness in the process. The absence of stabilisation activities can be indicative of stable market conditions or sufficient demand for the securities in question.
Investors and market watchers take note of such announcements as they provide insights into the market’s reception of new securities and the confidence of the stabilisation managers in the issuer’s financial prospects.
The information regarding the post-stabilisation period was released by RNS, the news service of the London Stock Exchange (LON:LSEG), and is based on a press release statement. It is intended for informational purposes and does not constitute an offer or invitation to buy or sell any securities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.