New Issue: Dexia Credit prices $1.5 billion 1.875% five-year notes at mid-swaps plus 47 bps

By Aleesia Forni

Virginia Beach, Jan. 21 – Dexia Credit Local priced $1.5 billion of five-year notes (Aa3/AA/) on Wednesday at mid-swaps plus 47 basis points, according to an informed source.

The notes were talked at mid-swaps plus 45 bps to 48 bps, tightened from guidance in the mid- to high-40 bps area over mid-swaps.

Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. and Societe Generale were the joint bookrunners.

The regional bank, focusing on sustainable development, is based in Brussels, Belgium.

Issuer:	Dexia Credit Local
Amount:	$1.5 billion
Description:	Notes
Maturity:	Jan. 29, 2020
Bookrunners:	Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co., Societe Generale
Coupon:	1.875%
Spread:	Mid-swaps plus 47 bps, Treasuries plus 62.9 bps
Trade date:	Jan. 21
Ratings:	Moody’s: Aa3
	Standard & Poor’s: AA
Price talk:	Mid-swaps plus 45 bps to 48 bps, tightened from mid- to high-40 bps area

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.