Orsted considers €5 billion rights offering to strengthen finances - Bloomberg
LONDON - HSBC Bank plc, acting as the Stabilisation Coordinator, has announced the potential stabilization activities for London Power Networks plc’s EUR 500 million bond issuance. The fixed-rate securities, due on June 11, 2037, are part of an offer that commenced on Wednesday, with the offer price to be confirmed.
The stabilization period, which began on the same day as the announcement, is expected to continue until no later than July 11, 2025. HSBC Bank plc, along with Barclays (LON:BARC), Lloyds (LON:LLOY), and Mizuho (NYSE:MFG), have been named as the Stabilising Managers who may engage in transactions to support the market price of the securities.
The stabilization measures could include over-allotment of the securities, where up to 5% of the aggregate nominal amount could be additionally allotted. Stabilization activities, if undertaken, aim to maintain the market price of the bonds at a level higher than what might otherwise prevail in the open market. However, there is no guarantee that stabilization will occur, and if initiated, it can be discontinued at any time.
This announcement serves as a notice and is not an invitation or offer to underwrite, subscribe for, or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction. It is aimed at qualified investors in the European Economic Area in accordance with the Prospectus Regulation and at professional investors and high net worth individuals in the United Kingdom (TADAWUL:4280).
The securities mentioned have not been, and will not be, registered under the United States Securities Act of 1933 and, therefore, may not be offered or sold within the United States absent registration or an exemption from registration. No public offer of these securities will be made in the United States.
The information provided is based on a press release statement and is intended for informational purposes only, reflecting the potential market activities related to the securities offering by London Power Networks plc.
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