BRUSSELS - Morgan Stanley (NYSE:MS) Europe SE has announced the completion of the post-stabilization period related to the Kingdom (TADAWUL:4280) of Belgium’s USD 1 billion fixed-rate notes due April 2035, with no stabilization actions undertaken. The securities, which were initially announced on March 26, 2025, have been offered at 99.301 percent.
The stabilization period is a post-issuance phase where underwriters can buy and sell a new security to manage price volatility and support the market price. However, in this instance, Morgan Stanley, as the stabilization manager, did not perform any such transactions.
The notes, bearing the ISIN codes BE6362168351 for Regulation S and BE6362169367 for Rule 144A, were part of a broader effort to support Belgium’s long-term financing needs. The absence of stabilization activities suggests that the market for these securities was sufficiently stable, negating the need for intervention.
The offering was managed by a syndicate including Morgan Stanley Europe SE, Citibank Europe plc, and J.P. Morgan SE. These institutions were responsible for overseeing the stabilization process and ensuring compliance with the EU Market Abuse Regulation, which sets the framework for such activities.
This announcement serves as a formal closure to the stabilization window and provides transparency to the market participants regarding the offering and the absence of any price-supporting actions by the stabilization managers.
The information released is based on a press release statement and is intended for informational purposes only, not as an offer or invitation for the underwriting or acquisition of securities in any jurisdiction.
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