NBN Co readies for bond stabilization by HSBC and partners

LONDON - HSBC Bank plc, acting as the Stabilisation Coordinator, has announced its intention to potentially stabilize the offering of new securities by NBN Co Limited, starting today, with the stabilization period expected to last until June 27, 2025. This action is aimed at supporting the market price of the securities post-launch.

The securities in question are a fixed-rate issuance due November 29, 2032, with an aggregate nominal amount described as EUR Benchmark, though the offer price is yet to be confirmed. The stabilization measures, if implemented, could include over-allotment of securities up to 5% of the aggregate nominal amount, and any transactions would be conducted over the counter (OTC).

The stabilizing managers listed alongside HSBC include Barclays (LON:BARC), BNP, Credit Agricole (OTC:CRARY), and Deutsche Bank (ETR:DBKGn). While the stabilization efforts may support the securities’ market price, there is no guarantee that such measures will be undertaken. If initiated, the stabilization can be discontinued at any time, and all activities will adhere to applicable laws and rules.

This announcement serves as a pre-stabilization notice and does not constitute an offer to underwrite or subscribe for securities. The potential stabilization will only be communicated to qualified investors within the European Economic Area (EEA) in accordance with the Prospectus Regulation, and to professional investors and high net worth individuals in the United Kingdom (TADAWUL:4280), as defined under the Financial Services and Markets Act 2000.

The securities mentioned have not been registered under the United States Securities Act of 1933 and, as such, will not be offered or sold in the United States without registration or an applicable exemption from the registration requirement. There is no intention for a public offering of the securities in the United States.

The information in this article is based on a press release statement provided by RNS, the news service of the London Stock Exchange (LON:LSEG), and is approved by the Financial Conduct Authority in the UK. Terms and conditions related to the distribution of this information may apply.

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