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LONDON - UBS Investment Bank announced Tuesday it may act as stabilizing manager for Arion Bank hf.’s upcoming €300 million senior preferred notes offering, according to a press release statement.
The 6-year senior preferred notes will mature in 2031, with the stabilization period expected to begin on August 26, 2025, and end no later than October 1, 2025.
UBS Europe SE will serve as the stabilizing manager for the transaction. As part of the stabilization process, UBS may over-allot securities or conduct transactions to support the market price of the securities at a level higher than might otherwise prevail, up to a maximum of 5% of the aggregate nominal amount.
The offer price and other terms of the notes have not yet been determined, according to the announcement.
The stabilization measures are permitted under Commission Regulation (EC) No. 2273/2003, which implements the Market Abuse Directive. However, UBS noted that there is no assurance any stabilization action will be taken, and any such action may be terminated at any time.
The securities have not been registered under the United States Securities Act of 1933 and are not being offered in the United States.
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