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LONDON - The Toronto-Dominion Bank announced Tuesday it will begin a stabilisation period for its upcoming benchmark euro-denominated fixed rate notes due 2032, according to a press release statement.
The bank, acting as stabilisation coordinator, indicated that stabilisation managers may over-allot securities or conduct transactions to support the market price of the securities at levels higher than might otherwise prevail during the stabilisation period.
The stabilisation period is expected to start immediately and end no later than November 3, 2025, which is 30 days after the proposed issue date of the securities. The offer price for the notes has not yet been determined.
Six financial institutions will serve as stabilisation managers: The Toronto-Dominion Bank (as coordinator), ABN AMRO Bank N.V., Banco Santander, S.A., Crédit Agricole Corporate and Investment Bank, Deutsche Bank AG London Branch, and Swedbank AB.
The stabilisation trading will take place over the counter, with managers permitted to over-allot securities to the extent allowed by applicable law.
The bank noted that stabilisation actions may not necessarily occur and could cease at any time. Any stabilisation or over-allotment will be conducted in accordance with all applicable laws and rules.
The euro-denominated notes will have a maturity date in 2032, though specific terms of the offering were not disclosed in the announcement.
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