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LONDON - Societe Generale (OTC:SCGLY), acting as the Stabilisation Coordinator, has announced the possibility of market stabilization activities related to the recent dual tranche bond offering by National Grid (LON:NG) North America Inc. The announcement, made today, details the issuance of two sets of bonds with an aggregate nominal amount of EUR 500 million and EUR 700 million, both offered at a price of 100%.
The bonds come with different maturity dates and coupons; the first tranche has a coupon of 3.150%, maturing on June 3, 2030, and the second has a coupon of 3.917%, maturing on June 3, 2035. The stabilization period for these securities is expected to commence today and is anticipated to conclude by July 3, 2025.
During the stabilization period, SG CIB, the designated Stabilisation Manager, may engage in transactions to support the market price of the securities at a level higher than what might otherwise prevail. However, there is no certainty that stabilization activities will occur, and if initiated, they may be discontinued at any time.
The stabilization actions, including any potential over-allotment of securities, will adhere strictly to applicable laws and rules. The announcement emphasizes that this information is for the purpose of informing market participants and does not constitute an offer to underwrite, subscribe for, or acquire securities.
The offer and the securities are directed at individuals outside the United Kingdom (TADAWUL:4280) or those within the UK who possess professional investment experience or are categorized as high net worth individuals, as defined by the Financial Services and Markets Act 2000.
Furthermore, the securities have not been registered under the United States Securities Act of 1933 and, consequently, may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements. As such, there will be no public offering of these securities in the United States.
This announcement is based on a press release statement and serves to inform interested parties of the potential market stabilization measures in connection with National Grid North America Inc’s bond issuance.
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