Fannie Mae, Freddie Mac shares tumble after conservatorship comments
LONDON - UBS Investment Bank announced Wednesday that it may undertake stabilisation measures for the upcoming senior secured floating rate notes to be issued by Kane Bidco Limited, according to a pre-stabilisation notice.
UBS AG London Branch will act as the stabilising manager for the 7NC1 senior secured floating rate notes, with the stabilisation period expected to begin when the securities are priced and last up to 30 days after the proposed issue date.
The aggregate nominal amount and offer price of the notes are yet to be confirmed, according to the notice. The stabilising manager may over-allot securities to the extent permitted by applicable law or conduct transactions to support the market price of the securities at levels higher than might otherwise prevail.
Trading venues for the stabilisation activities are expected to be over the counter (OTC), though this remains subject to confirmation.
The announcement emphasizes that there is no assurance that any stabilisation action will be taken, and any such action may be ended at any time.
The securities have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States without registration or an exemption. The offer is directed at qualified investors in EEA Member States and at persons outside the United Kingdom (TADAWUL:4280) or those within the UK who have professional experience in investment matters.
This information was provided in a press release statement issued by UBS AG through the London Stock Exchange (LON:LSEG)’s news service.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.