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COPENHAGEN - Jyske Bank A/S announced Wednesday the offering of €500 million in subordinated fixed rate resettable tier 2 notes, with J.P. Morgan Securities plc acting as stabilization coordinator alongside multiple stabilization managers.
The 11.25-year notes come with a 6.25-year non-call period and will be listed on the regulated market of Euronext Dublin, according to a press release statement. The securities will be available in denominations of €100,000 with subsequent increments of €1,000.
The stabilization period is expected to begin on August 27, 2025, and end no later than September 27, 2025. During this time, stabilization managers may engage in transactions to support the market price of the securities at levels higher than might otherwise prevail.
The stabilization managers include J.P. Morgan Securities plc, BofA Securities, Danske Bank, Jyske Bank, and Morgan Stanley. These managers may over-allot securities up to 5% of the aggregate nominal amount.
The offering is directed at qualified investors outside the United States, as the securities have not been registered under the U.S. Securities Act of 1933. In the United Kingdom, the offer targets only professional investors or high net worth individuals as defined by the Financial Services and Markets Act 2000.
The press release notes that stabilization actions may not necessarily occur and could cease at any time, but must end no later than 30 days after the issue date or 60 days after the allotment date.
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