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LONDON - Royal Bank of Canada announced Monday that a stabilisation period for its new euro-denominated green senior bond has begun, according to a notice issued by RBC Europe Limited.
The 6-year non-call 5-year (6NC5) green bond offering will be subject to stabilisation activities that may continue for up to 30 days after the proposed issue date. The stabilisation period, which started Monday, will be managed by a consortium including Commerzbank AG (OTC:CRZBY), Cooperatieve Rabobank U.A., Natixis SA, RBC Europe Limited, Société Générale (EPA:SOGN), and Swedbank AB (OTC:SWDBY).
During this period, stabilisation managers may over-allot securities or conduct transactions to support the market price of the bonds at levels higher than might otherwise prevail, as permitted by applicable law.
The aggregate nominal amount and offer price of the green bond have not yet been determined, according to the press release statement.
The securities have not been registered under the United States Securities Act of 1933 and will not be offered or sold in the United States. The offering is directed at qualified investors within the meaning of the Prospectus Regulation in the UK and EEA Member States, or to those with professional investment experience or high net worth individuals in the United Kingdom (TADAWUL:4280).
The stabilisation activities will be conducted in accordance with Commission Delegated Regulation (EU) 2016/1052 under the Market Abuse Regulation.
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