LONDON - J.P. Morgan Securities PLC announced today that it did not undertake any stabilization actions for the Africa Finance Corporation's (AFC) recent securities offering. The announcement follows a pre-stabilization notice issued on January 13, 2025, outlining potential market interventions that could have been made by the stabilization managers.
The securities in question are perpetual, non-callable 5.25-year deeply subordinated fixed-rate reset notes totaling an aggregate nominal amount of USD 500 million. These notes have been listed on both the Irish Stock Exchange and the London Stock Exchange (LON:LSEG).
Stabilization managers for this offering included J.P. Morgan Securities PLC as the stabilization coordinator, with BofA Securities, Emirates NBD Capital, Mashreq, MUFG, and Societe Generale (OTC:SCGLY) serving as stabilization managers. The offer price for the securities was set at 99.485%.
Stabilization activities are measures taken by stabilization managers to support the market price of securities immediately after an offering. However, in this instance, no such actions were required, indicating that the securities may have found a stable market price without intervention.
The completion of the post-stabilization period marks a significant step for the AFC in securing capital for its operations. The AFC, as a prominent institution in the realm of development finance, aims to address Africa's infrastructure needs and drive sustainable economic growth across the continent.
This information, disseminated by RNS, the news service of the London Stock Exchange, is based on a press release statement and provides investors and the public with key facts regarding the stabilization period of AFC's securities offering. It is important to note that this announcement is solely for informational purposes and not an invitation or offer to buy or sell any securities.
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