Centrica plc, a UK-based energy and services company, has announced a stabilisation period for the offer of GBP 31-yr-Non-Call-6-year FXD Subordinated Notes. The stabilisation period, expected to start on 14th May 2024 and end no later than 14th June 2024, will be managed by J.P. Morgan Securities plc as the Stabilisation Coordinator, along with Barclays, NatWest Markets, and Societe Generale as Stabilisation Managers. The over-allotment facility allows for the over-allotment of securities in an amount not exceeding 5% of the aggregate nominal amount stated above.
During the stabilisation period, the Stabilising Manager(s) may over-allot the securities or effect transactions to support the market price of the securities at a level higher than that which might otherwise prevail. However, it is noted that stabilisation may not necessarily occur and any stabilisation action, if begun, may cease at any time, but it must end no later than the earlier of 30 days after the issue date of the securities and 60 days after the date of allotment of the securities.
The announcement emphasizes that it is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for, or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction. It is also specified that the offer of the securities is only addressed to and directed at persons outside the United Kingdom and persons in the United Kingdom who have professional experience in matters related to investments or who are high net worth persons within Article 12(5) of the Financial Services and Markets Act 2000.
Furthermore, the announcement outlines that if and to the extent that the offer of the securities is made in any EEA Member State that has implemented Directive 2003/71/EC, the offer is only addressed to and directed at persons in that Member State who are qualified investors within the meaning of the Prospectus Directive and must not be acted on or relied on by other persons in that Member State.