LONDON - Export Development Canada (EDC) has announced its intention to issue a benchmark-sized, five-year Euro-denominated fixed-rate note due January 21, 2030, with the exact offer price to be confirmed. The securities will be listed on the Luxembourg Stock Exchange's Euro MTF Market. J.P. Morgan Securities PLC has been appointed as the Stabilisation Coordinator and, along with other banks, may engage in stabilization activities starting today.
Stabilization efforts, which are aimed at supporting the market price of the securities post-issuance, are expected to continue until no later than February 14, 2025. The stabilizing managers have the option to over-allot the securities by up to 5% of the aggregate nominal amount. However, there is no assurance that stabilization will occur, and if initiated, it can be halted at any time.
The stabilization mechanism is a common practice in securities offerings, particularly in the context of initial public offerings and bond issuances. It is designed to provide liquidity and support the market price of the securities to prevent excessive volatility in the period immediately following the issuance.
The announcement specifies that the offer and the stabilization activities are addressed to individuals or entities outside the United Kingdom (TADAWUL:4280), or to those within the UK who have professional experience in investment matters or are high net worth entities as described in the Financial Services and Markets Act 2000.
This notice is for informational purposes only and does not represent an offer to underwrite, subscribe for, or acquire securities in any jurisdiction. The announcement is based on a press release statement and is intended to inform potential investors and the market about the upcoming securities offer and the potential stabilization activities to be undertaken by J.P. Morgan SE and other banks.
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