By Andrea Heisinger
New York, March 2 - Dexia Credit Local sold $4 billion of bonds (Aa1/AA+/AA+) late on Tuesday in two tranches, an informed source said.
The $1.75 billion of three-year floating-rate notes priced at par to yield three-month Libor plus 40 basis points.
A $2.25 billion tranche of 2% three-year notes priced at 99.949 to yield 2.018% with a spread of Treasuries plus 71.25 bps.
Both tranches are non-callable.
Bank of America Merrill Lynch, Citigroup Global Markets, Credit Suisse Securities and RBS Securities ran the books.
The regional bank, focusing on sustainable development, is based in Brussels, Belgium.
| Issuer: | Dexia Credit Local
|
| Amount: | $4 billion
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets, Credit Suisse Securities, RBS Securities
|
| Trade date: | March 2
|
| Settlement date: | March 5
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
|
|
| Three-year floaters
|
| Amount: | $1.75 billion
|
| Issue: | Floating-rate notes
|
| Maturity: | March 5, 2013
|
| Coupon: | Three-month Libor plus 40 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 40 bps
|
| Call: | Non-callable
|
|
|
| Three-year fixed-rate notes
|
| Amount: | $2.25 billion
|
| Issue: | Fixed-rate notes
|
| Maturity: | March 5, 2013
|
| Coupon: | 2%
|
| Price: | 99.949
|
| Yield: | 2.018%
|
| Spread: | Treasuries plus 71.25 bps
|
| Call: | Non-callable
|
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