BRUSSELS – The Kingdom (TADAWUL:) of Belgium has initiated a pre-stabilization period as of today, in anticipation of its forthcoming issuance of 10-year fixed-rate notes, slated for maturity on June 22, 2035. J.P. Morgan SE has been appointed as the Stabilisation Coordinator, with BNP Paribas (OTC:) Fortis (NYSE:), Credit Agricole (OTC:) CIB, HSBC, and Morgan Stanley (NYSE:) serving as Stabilisation Managers.
The aggregate nominal amount for the new securities is set at an EUR Benchmark level, with the specific offer price yet to be confirmed. The notes, which will be available in denominations and increments of EUR 0.01, are to be listed on the Brussels stock exchange.
The stabilization period, which commences today, is expected to last until February 7, 2025. During this time, the Stabilisation Managers are authorized to over-allot securities up to 5% beyond the aggregate nominal amount. These actions aim to support the market price of the securities post-issuance and may include transactions to maintain pricing above market levels. However, there is no guarantee that stabilization activities will take place, and if initiated, can be discontinued at any moment within the stipulated timeframe.
This stabilization move is in accordance with the Commission Delegated Regulation EU/xxx/2016 under the Market Abuse Regulation (EU/596/2016). The over-allotment and stabilization transactions, if conducted, will be executed over the counter, with the venues to be confirmed.
The announcement clarifies that this information is solely for those with professional investment experience 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 to whom the offer may legally be addressed should act upon this information.
This strategic financial maneuver is based on a press release statement, and it provides a window into the Kingdom of Belgium’s approach to managing its new debt issuance in the current economic climate.
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