LONDON - Morgan Stanley (NYSE:MS) Europe SE announced today that it has completed the post-stabilization phase of Transportes Aéreos Portugueses, S.A.'s (TAP) bond offering without undertaking any market stabilization actions. The announcement follows the initial pre-stabilization communication dated October 29, 2024.
The bond issue raised EUR 400 million through the sale of senior notes due in 2029, with the offer price set at 100%. The securities were identified by ISIN codes RegS: PTTAPFOM0003 and 144a: PTTAPEOM0004. Morgan Stanley Europe SE acted as the stabilization manager for this transaction.
Stabilization measures are typically used by financial institutions to support the price of a security after its initial offering in the market. However, in this case, the stabilization manager has confirmed that no such actions were required.
This bond issuance does not constitute a public offering of securities in the United States, as the securities have not been registered under the United States Securities Act of 1933. Consequently, the securities may not be offered or sold in the U.S. without registration or an exemption from registration requirements.
The completion of this bond offering is significant for TAP, a prominent player in the aviation industry, as it secures additional funding for the company. The success of the bond issue, marked by the absence of stabilization, could indicate strong investor confidence in TAP's financial prospects.
The information provided in this announcement is based on a press release statement and is intended for informational purposes only. It does not serve as an offer or invitation to purchase or dispose of any securities in any jurisdiction.
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