BRUSSELS – I The Kingdom (TADAWUL 🙂 of Belgium has started a pre-stabilization period from today, in anticipation of its upcoming issuance of 10-year fixed-rate notes, scheduled to mature on June 22, 2035. JP Morgan SE has been appointed as Stabilization Coordinator, along with BNP Paribas ( OTC 🙂 Fortis (NYSE:), Credit Agricole (OTC:) CIB, HSBC, and Morgan Stanley (NYSE: ) acting as Investment Managers.
The aggregate monetary value of the new bonds is set at the level of the EUR Benchmark, with a specific value to be determined. The notes, which will be available in services and increments of EUR 0.01, must be listed on the Brussels stock exchange.
The settlement period, which begins today, is expected to last until February 7, 2025. During this period, the Settlement Managers are authorized to offer securities up to 5% above the limited amount. These actions aim to support the market value of securities after issuance and may include transactions to maintain prices above market levels. However, there is no guarantee that the stabilization activities will take place, and if they are started, they can be stopped at any moment during the specified period.
This stabilization action is in line with Commission Regulation EU/xxx/2016 under the Market Abuse Act (EU/596/2016). Over-the-counter distribution and consolidation of transactions, if done, will be done over the counter, with locations to be verified.
The announcement clarifies that this information is intended only for experienced investors or high net worth individuals in the United Kingdom, and should not be relied upon by other UK residents. Similarly, within the European Economic Area (EEA), only those who are qualified investors as defined by the Prospectus Directive or those who can be legally presented must act on this information.
This financial strategy is based on media reports, and provides a window into the Kingdom of Belgium's approach to managing the issuance of new debt in the current economic climate.
This article is powered by AI and updated by an editor. For more information see our T&C.