Announcement before stabilization
Distribution, directly or indirectly, within the United States or into any jurisdiction in which such distribution would be unlawful is prohibited.
african development bank
Pre-stabilization notification
The Bank of Montreal, London Branch (contact: Massimo Antonelli, telephone: +44 20 7664 8062), is pleased to announce that the following Stability Manager has approved the Commission’s Delegated Regulation EU 2016/1052 of 8 March 2016, supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council on Regulatory Technical Standards. Pursuant to this, we hereby notify you that we may stabilize the offering of the following securities. Stabilization measures form part of EU law maintained under the European Union (Withdrawal) Act 2018 and therefore the conditions that apply in each case.
Securities:
Publisher:
African Development Bank (“AFDB”)
Guarantor (if any):
none
Total nominal amount:
2 billion USD
explanation:
$2,000,000,000 3.625% Senior Notes Due March 3, 2031
Offer price:
99.918%.
Other offer terms:
to be decided
Stable:
Stabilization manager:
Bank of Montreal London Branch
The stabilization period is scheduled to begin on the following days:
February 25, 2026
The stabilization period is expected to end no later than the following times:
30 days after the scheduled issuance date of the security
Existence of over-allotment system, maximum scale and conditions of use:
The Stabilization Manager may over-allocate Securities to the extent permitted pursuant to applicable law.
In connection with the offering of the securities described above, the Stabilization Manager may over-allocate securities or enter into transactions for the purpose of supporting the market price of the securities at a level higher than prevailing prices. However, there is no guarantee that the stabilization manager will perform stabilization actions, and even if stabilization actions are started, they may be terminated at any time. Any stabilization measures or over-allotments shall be carried out in accordance with all applicable laws and regulations.
This announcement is for informational purposes only and does not constitute a solicitation or offer to subscribe for, underwrite or otherwise acquire or dispose of the Issuer’s securities in any jurisdiction.
This material was prepared by Bank of Montreal, London Branch, a company authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. This announcement and the related offer of securities are addressed only to persons outside the United Kingdom and to persons in the United Kingdom with investment-related professional experience, or to high net worth individuals within the meaning of section 12(5) of the Financial Services and Markets Act 2000 (Financial Facilitation) Order 2005, and may not be acted upon or relied upon by any other person in the United Kingdom.
In addition, if and to the extent that this announcement is communicated in an EEA Member State or an offer of the relevant securities is made in an EEA Member State prior to publication of the prospectus relating to securities approved by the competent authority of a Member State in accordance with Regulation (EU) 2017/1129 (the “Prospectus Regulation”) (or securities approved by the competent authority of another Member State and notified to the competent authority of that Member State in accordance with the following Regulations): Under the Prospectus Regulation (Prospectus Regulation), this announcement and offer is addressed only to, and is directed to, qualified investors (or other persons to whom the offer may lawfully be addressed) within the meaning of the Prospectus Regulation of the Member State concerned, and may not be acted upon or relied upon by any other person in the Member State concerned.
This announcement does not constitute an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. There are no public offerings of securities in the United States.
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