FRANKFURT - In a recent development in the financial markets, J.P. Morgan SE has announced that it did not undertake any stabilisation measures for Evonik Industries AG (ETR:EVKn)'s green bond offering. The bond, with a nominal amount of EUR 500 million, was described as green, senior, unsecured, and dematerialised, and is listed on the Luxembourg Stock Exchange's regulated market.
The announcement follows a pre-stabilisation notice dated January 8, 2025, and clarifies that no stabilisation activities were conducted by the appointed stabilisation managers, in accordance with the Market Abuse Regulation and the rules of the Financial Conduct Authority. J.P. Morgan SE acted as the stabilisation coordinator, with Citi, Helaba, HSBC, and Société Générale (EPA:SOGN) serving as stabilisation managers.
The offer price for the securities was set at 99.973% with a yield of 3.256%. The absence of stabilisation actions suggests that the market conditions were stable enough to not require intervention to support the bond's price post-issuance.
Stabilisation is a regulatory mechanism used by underwriters to maintain the market price of a new security after its initial offering. It is intended to protect investors from volatility and provide liquidity in the market. However, the decision not to engage in stabilisation implies confidence in the bond's performance and the market's reception of the security.
This information is based on a press release statement and is intended to inform stakeholders and the public about the latest developments regarding Evonik's financial activities. It does not serve as an invitation or offer to underwrite, subscribe for, or otherwise acquire or dispose of any securities of the issuer.
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