LONDON – ING Bank N.V. has indicated that it may engage in stabilization activities for the newly offered 7-year senior bond issued by Südzucker International Finance B.V., according to a statement released today. The stabilization period is expected to commence on January 22, 2025, and could last up to 30 days post the issuance date.
The announcement by ING, acting as the Stabilising Manager, clarifies that such measures would be in compliance with Commission Regulation (EC) No. 2273/2003, which is part of the Market Abuse Directive (2003/6/EC). These actions are intended to support the market price of the securities after their issuance, potentially leading to a higher market price than would otherwise prevail.
However, ING has provided no guarantee that stabilization will be carried out, and if initiated, it can be discontinued at any time. Moreover, the stabilizing manager is permitted to over-allot the securities as per applicable laws.
The notice also outlines that the offer and the announcement are not directed at the general public in the United Kingdom (TADAWUL:). Instead, they are aimed at those with professional investment experience or high net worth individuals as defined under the Financial Services and Markets Act 2000. Likewise, in the European Economic Area, the communication is restricted to qualified investors as described in the Prospectus Directive.
The statement emphasizes that the securities in question have not been and will not be registered under the United States Securities Act of 1933. Therefore, the securities cannot be offered or sold in the United States absent registration or an exemption from registration, indicating that there will be no public offering of the securities in the U.S.
This information, based on a press release statement, serves to inform market participants and potential investors about the possible stabilization mechanism that may be employed following the bond issue, a common practice in securities offerings to manage market dynamics.
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