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LONDON - J.P. Morgan S.E, acting as the Stabilisation Coordinator, has announced the potential stabilisation of Luminor Bank AS securities, which may commence today, Tuesday. This pre-stabilisation notice precedes the offer of a EUR 300 million senior preferred securities issuance, with the stabilisation period expected to last until no later than July 3, 2025.
The securities, which are listed on Euronext (EPA:ENX) Dublin, have not had an offer price disclosed. The offering terms indicate securities denominations of EUR 100,000 each. Stabilisation actions, in accordance with EU market regulations, will be conducted by J.P. Morgan S.E, along with DNB Bank ASA, Natixis S.A., Luminor Bank AS, and UniCredit Group, all serving as stabilisation managers.
Stabilisation measures may include over-allotment of securities, not exceeding 5% of the aggregate nominal amount, and transactions to support the market price of the securities at higher levels than might otherwise prevail. However, there is no guarantee that stabilisation will occur, and if initiated, it may end at any time within the stipulated period.
The announcement clarifies that the offer and the securities are aimed at persons outside the United Kingdom (TADAWUL:4280) or those within it who have professional investment experience or are high net worth individuals, as defined by the Financial Services and Markets Act 2000. The offer is also directed at qualified investors in the European Economic Area as per the Prospectus Directive.
The information, based on a press release statement, also states that the securities have not been registered under the United States Securities Act of 1933 and, therefore, may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of these securities in the United States.
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