J.P. Morgan Leads Bapco Energies Sukuk Offering Initiative
J.P. Morgan's Role in Bapco Energies Sukuk Issuance
LONDON - J.P. Morgan Securities PLC is proud to announce its pivotal role as the Stabilisation Coordinator for the recent securities offering from Bapco Energies Sukuk Limited. On Thursday, the firm revealed that alongside several reputable financial institutions, it would potentially engage in stabilization activities related to a 10-year senior unsecured Ijara/Murabaha Sukuk note issuance, which will be listed on Euronext Dublin.
Details of the Sukuk Offering
The offering involves a benchmark amount in U.S. dollars, although the specific figures are still to be confirmed. The stabilization period commenced today, with expectations to continue until no later than February 16, 2025. During this phase, the Stabilisation Managers have the discretion to over-allot securities by as much as 5% beyond the total nominal amount in order to provide market support.
Understanding Stabilization Measures
The stabilization measures, guided by relevant regulations, may include strategic transactions aimed at maintaining pricing levels that could otherwise be adversely affected in the open market. However, it is important to note that there is no assurance that stabilization will occur, and if initiated, it can be concluded at any time during the designated timeline.
Key Participants in the Stabilisation Initiative
Alongside J.P. Morgan Securities PLC, other noteworthy Stabilisation Managers participating in this initiative include ASB Capital, Citi, Dubai Islamic Bank, GIB Capital, HSBC, KFH Capital, Mashreq, National Bank of Bahrain, and Standard Chartered Bank. These institutions may execute over-the-counter transactions as required to meet stabilization objectives.
Important Regulatory Considerations
This announcement serves as informational in nature and does not constitute an offer for underwriting or subscription of securities. It is specifically aimed at individuals living outside the United Kingdom or those within, who possess professional investment experience or represent high net worth entities.
Securities Registration Status
Furthermore, the securities mentioned have not been registered under the United States Securities Act of 1933. Accordingly, they may not be offered or sold within the United States unless an exemption from registration is obtained. It is also noted that there will be no public offering of these securities in the U.S.
Frequently Asked Questions
What is the role of J.P. Morgan in the Bapco Energies Sukuk?
J.P. Morgan is serving as the Stabilisation Coordinator for the Sukuk offering, working alongside other financial institutions.
What does the Sukuk offering entail?
This Sukuk offering consists of a 10-year senior unsecured Ijara/Murabaha note issuance, aimed at maintaining market stability.
What are stabilization measures?
Stabilization measures are strategies employed to maintain the market price of securities during a set stabilization period, which, in this case, lasts until February 16, 2025.
Who else is involved in the stabilization efforts?
Other Stabilisation Managers include ASB Capital, Citi, Dubai Islamic Bank, among others, who will support market activities as needed.
Are these securities available for U.S. investors?
No, the securities are not registered in the U.S. and will not be offered to U.S. investors unless exempted from registration.
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