LONDON - HSBC Bank plc has announced its role as the Stabilisation Coordinator for potential market stabilization activities related to a new securities offering from SAB AT1 Limited, a trustee for Saudi Awwal Bank. The announcement, made on Wednesday, May 14, 2025, outlines the possibility of market stabilization maneuvers beginning today and potentially running until June 20, 2025.
The securities in question involve an aggregate nominal amount described as USD Benchmark, with a fixed due PerpNC5.5yr, although the offer price is yet to be confirmed. The stabilizing managers listed include HSBC Bank plc, BoFA Securities, Citigroup (NYSE:C) Global Markets Limited, J.P. Morgan Securities plc, Kamco Investment Company K.S.C.P., Mizuho International plc, Standard Chartered Bank, and Warba Bank K.S.C.P.
According to the press release, the stabilization activities, if initiated, may include over-allotting securities or executing transactions to sustain the market price of the securities above market levels that might prevail otherwise. However, there is no guarantee that stabilization will occur, and if it does, it can be discontinued at any time. Any such actions will adhere to the prevailing laws and rules.
The existence of an over-allotment facility has been disclosed, with a maximum size of 5% of the aggregate nominal amount, and transactions may take place over the counter (OTC).
This pre-stabilization notice serves as an informational announcement and does not constitute an offer to underwrite, subscribe for, or acquire securities in any jurisdiction. The offer of these securities is directed at qualified investors in the European Economic Area in accordance with the Prospectus Regulation, as well as at persons outside the United Kingdom and those within the UK who have professional investment experience or are high net worth individuals, as defined by the Financial Services and Markets Act 2000.
The securities discussed in this announcement have not been registered under the United States Securities Act of 1933 and are not intended for public offering in the United States, absent registration or an exemption from registration requirements.
This news is based on a press release statement and provides a factual summary of the planned stabilization activities associated with SAB AT1 Limited’s securities offering.
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