PARIS - Societe Generale (OTC:SCGLY) has announced the potential stabilization of its newly issued EUR 1 billion bond, with a 3.75% coupon and a maturity date set for July 15, 2031. The stabilization period began today and is expected to last until no later than February 14, 2025, as disclosed by the Stabilisation Coordinator, Rupert Carter.
The French banking giant has not guaranteed the stabilization, which aims to support the market price of the securities post-issuance, but if initiated, it could maintain prices at a level higher than what might otherwise prevail in the market. The stabilization process, if commenced, may be halted at any time, and any actions taken will comply with all applicable laws and rules.
SG CIB is acting as the Stabilisation Manager and may over-allot securities as permitted by law. The offer price for the bond has been set at 99.705, and the stabilization actions are intended to provide market support for the securities during the designated period.
This announcement is intended for informational purposes and should not be considered as an offer to underwrite or acquire securities. The securities offer targets qualified investors outside the United Kingdom (TADAWUL:4280) and those in the UK with professional investment experience or high net worth individuals as defined under the Financial Services and Markets Act 2000.
The securities referenced in this announcement have not been registered under the United States Securities Act of 1933 and, as such, may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offering of these securities in the United States.
The information is based on a press release statement and is provided by RNS, the news service of the London Stock Exchange (LON:LSEG). The details regarding the stabilization notice adhere to the regulations set by the Financial Conduct Authority in the United Kingdom.
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