UK transmission business Arqiva’s Broadcast Finance division plans to offer £500 million (€586.3m) in fixed rate securities with a 5-year maturity and a 2-year non-call period, according to a pre-stabilisation notice.

Investment bank HSBC is the company’s stabilisation coordinator for the offer which is now open and which will conclude on August 4th.

The stabilisation manager may over-allot securities or conduct transactions to support the market price at levels higher than might otherwise prevail, though there is no guarantee any stabilization action will be taken. Any such actions would be conducted in accordance with applicable laws and rules.

The securities have not been registered under the US Securities Act of 1933 and will not be offered in the US. Within the European Economic Area, the offering is directed only at qualified investors as defined in the Prospectus Regulation.

The over-allotment facility allows for additional securities of up to 5 per cent of the aggregate nominal amount, with stabilisation to take place over the counter.

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