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LONDON - J.P. Morgan SE announced Tuesday that no stabilization measures were undertaken for Banco Comercial Português’s recent €500 million bond offering, according to a post-stabilization notice.
The announcement follows a pre-stabilization notice issued on Monday. J.P. Morgan SE served as the stabilization coordinator for the offering, with Banco Comercial Português, Goldman Sachs Bank Europe SE, IMI (LON:IMI) - Intesa Sanpaolo (OTC:ISNPY), and Morgan Stanley (NYSE:MS) acting as stabilization managers.
The securities involved are described as €500 million 6NC5 direct, unconditional, unsecured and unsubordinated bonds, offered at 99.631% of face value. The bonds are expected to be listed on the Regulated Market of Euronext (EPA:ENX) Dublin.
Stabilization refers to the practice where underwriters may intervene in the market to support the price of newly issued securities. In this case, despite having designated stabilization managers, no such intervention was deemed necessary.
The announcement was made in accordance with Article 3.2(d) of the Market Abuse Regulation and the rules of the Financial Conduct Authority.
This information was provided through a regulatory news service announcement distributed via the London Stock Exchange (LON:LSEG).
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