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LONDON - Tesco Corporate Treasury Services PLC plans to issue €500 million in fixed rate notes due October 13, 2033, according to a pre-stabilisation notice released Monday.
The notes will be guaranteed by Tesco PLC, the parent company of the UK’s largest supermarket chain. HSBC Bank plc will serve as the stabilisation coordinator, with BNP PARIBAS, Lloyds, and Rabobank acting as stabilisation managers.
The stabilisation period is expected to begin Monday and end no later than November 12, 2025. During this time, stabilisation managers may over-allot securities or conduct transactions to support the market price of the securities at levels higher than might otherwise prevail, though there is no guarantee any stabilisation action will be taken.
The announcement notes that an over-allotment facility of up to 5% of the aggregate nominal amount may be utilized as part of the stabilisation efforts.
The offer price for the notes has not yet been determined, according to the statement.
The securities have not been registered under the United States Securities Act of 1933 and will not be offered for sale in the United States. The offering is directed at qualified investors in European Economic Area Member States and to persons outside the United Kingdom or those in the UK with professional investment experience.
This information was disclosed in a regulatory announcement published by the London Stock Exchange.
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