LONDON - RCI Banque S.A., the financial services provider, has completed the sale of EUR 600 million in fixed coupon bonds without undergoing stabilisation activities, Societe Generale (OTC:SCGLY) announced today. The bonds, which carry an annual fixed coupon rate of 3.375%, are set to mature on July 26, 2029, and were offered at a price of 99.542.
Societe Generale, serving as the Stabilisation Manager, has confirmed that no market stabilisation measures were taken in connection with the bond offering. Market stabilisation is a regulatory process where underwriters can buy shares in the open market after a new issue to prevent or mitigate price declines. However, Societe Generale indicated that such actions were not needed for RCI Banque's offering.
The stabilisation period, initially expected to commence on November 14, 2024, and to conclude by December 26, 2024, was rendered unnecessary. The absence of stabilisation activities suggests a stable demand for the securities from investors.
The bond issuance did not involve any guarantors and the details of the offer were made public as part of the regulatory compliance. It is important to note that the securities have not been registered under the United States Securities Act of 1933 and, as such, they have not been offered or sold within the United States, adhering to the registration or exemption requirements.
The announcement made clear that the information provided does not constitute an offer to underwrite, subscribe for, or dispose of any securities in any jurisdiction and is not an offer of securities for sale into the United States.
This financial move by RCI Banque is part of routine capital raising activities for corporations and is based on a press release statement. The sale of the securities was conducted in accordance with applicable laws and regulations, as overseen by the Financial Conduct Authority in the United Kingdom (TADAWUL:4280).
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