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TOKYO - East Japan Railway Company (JR East) announced Tuesday it will issue benchmark senior unsecured notes in both euros and British pounds, according to a pre-stabilization notice.
The railway operator plans to offer 12-year euro-denominated bonds and 30-year pound-denominated notes, with the exact aggregate nominal amounts yet to be determined. The offer price will be announced at a later date.
Mizuho International plc will serve as the stabilization coordinator, with Barclays, BNP Paribas, and Morgan Stanley acting as additional stabilization managers. The stabilization period is expected to begin on August 26, 2025, and end no later than September 25, 2025.
The stabilization managers may over-allot up to 5% of the aggregate nominal amount of securities to support the market price during the stabilization period, though stabilization is not guaranteed to occur.
The notes will be registered and offered under Regulation S only, meaning they will not be registered under the United States Securities Act of 1933 and cannot be offered or sold in the United States.
The bond offerings are directed at qualified investors outside the United Kingdom and the United States, and to high net worth or professionally experienced investors within the UK, in accordance with applicable regulations.
This information was released in a pre-stabilization notice published by Mizuho International plc through the London Stock Exchange’s news service.
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