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LONDON - Market Bidco Finco PLC, associated with Morrisons, announced Thursday that it may begin a stabilization period for a potential bond offering. According to a pre-stabilization notice, the stabilization period is expected to start on July 10, 2025, and end no later than August 15, 2025.
The potential securities offering includes both euro and British pound denominated bonds with a 5.5-year maturity. The exact aggregate nominal amounts and offer prices have not yet been finalized.
BNP Paribas (OTC:BNPQY) will act as the Stabilization Coordinator, with BNP Paribas serving as joint global coordinator and bookrunner for the pound sterling tranche, while Goldman Sachs will serve as joint global coordinator and bookrunner for the euro tranche.
Additional bookrunners for the offering include Bank of America Securities, Mizuho (NYSE:MFG), Rabobank, NatWest, Lloyds (LON:LLOY), HSBC, Société Générale (EPA:SOGN), Santander (BME:SAN), RBC, ING, Deutsche Bank (ETR:DBKGn), MUFG, and SMBC.
The stabilization managers may over-allot securities or conduct transactions to support the market price of the securities during the stabilization period at levels higher than might otherwise prevail, though stabilization is not guaranteed to occur.
The notice states that any stabilization action will be conducted in accordance with applicable laws and rules, and the securities have not been registered under the United States Securities Act of 1933.
This information is based on a pre-stabilization period announcement issued by BNP Paribas.
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