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ISTANBUL - Türk Telekomünikasyon A.Ş. (Türk Telekom) announced Tuesday the start of a stabilization period for its upcoming USD benchmark 7-year fixed-rate senior unsecured notes offering.
J.P. Morgan Securities PLC will serve as the stabilization coordinator, alongside MUFG and ING as stabilization managers, according to a company press release. The stabilization period is expected to run from today through October 30, 2025.
The stabilization managers may over-allot securities not exceeding 5% of the aggregate nominal amount, or conduct transactions to support the market price of the securities at levels higher than might otherwise prevail.
The notes will be listed on Euronext Dublin’s Global Exchange Market with a minimum denomination of $200,000 and integral multiples of $1,000 thereafter.
The stabilization process, which follows regulatory guidelines under the Market Abuse Regulation, may not necessarily occur and could cease at any time. If begun, it must end no later than 30 days after the issue date or 60 days after the allotment date.
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 without registration or an exemption.
The offering is directed at qualified investors outside the United Kingdom or those within the UK who have professional experience in investment matters or qualify as high net worth individuals under the Financial Services and Markets Act 2000.
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