March 13, 2018 / 10:15 AM / 2 months ago

Dexia books over GBP310m, guidance G+55bp area

LONDON, March 13 (IFR) -

* Books in excess of £310m excl. JLM interest (10:12)

* Guidance unchanged at UKT 2.25% 09/2023 +55bps area. (10:12)

* Books open at UKT 2.25% 09/23 (Mid Px) +55bps area. Listed in Lux. (8:10)

* Dexia Credit Local is marketing a Dec 2023 sterling benchmark at mid-50s over 2.25% Sep 2023 Gilts via Deutsche Bank, HSBC, and NatWest.

The notes benefit from an unconditional and irrevocable first demand guarantee from the States of Belgium (51.41%), France (45.59%) and Luxembourg (3.00%).

Taking IOIs, expect tomorrow’s business. Lux listing. English law. Format: Senior unsecured, RegS bearer. Denoms: £100k + £100k. Docs: Issuer’s Programme for the issuance of Guaranteed Euro Medium Term Notes.

Dexia is rated Aa3(stable)/AA/AA-. (March 12) (Reporting by Helene Durand)

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