BofA update shows where active managers are putting money
LONDON - British supermarket chain Morrisons has completed its dual-currency bond issuance without any market stabilization measures, according to a post-stabilization announcement from BNP Paribas (OTC:BNPQY) on Wednesday.
The retailer raised €500 million through 6.75% notes due January 31, 2031, and £500 million via 8.75% notes also maturing on January 31, 2031. Both bond tranches were priced at 100% of face value.
BNP Paribas, acting as the stabilization manager, confirmed that no stabilization activities were undertaken for either issuance. Stabilization typically involves transactions that support the market price of securities during the initial offering period.
The bond offerings were managed by a syndicate of banks including BNP Paribas and Goldman Sachs as joint global coordinators. Bank of America Merrill Lynch (NYSE:BAC), Mizuho, Rabobank, NatWest, Lloyds (LON:LLOY), HSBC, Société Générale (EPA:SOGN), Santander (BME:SAN), Royal Bank of Canada, ING, Deutsche Bank (ETR:DBKGn), MUFG, and SMBC served as bookrunners.
The announcement follows the pre-stabilization notice issued on July 10, 2025, and confirms the completion of the bond issuance process.
According to the press release statement, the securities have not been registered under the United States Securities Act of 1933 and are not being offered for sale in the United States.
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