New Issue: Dexia sells $138 million add-on to notes due 2018 at Libor plus 52 bps

By Cristal Cody

Eureka Springs, Ark., May 6 – Dexia Credit Local priced a $138 million tap of its floating-rate notes due March 23, 2018 (Aa3/AA) to yield Libor plus 52 basis points, according to a market source.

The company originally sold the notes on March 15 in a $1 billion offering at par to yield Libor plus 60 bps. The total outstanding is $1,138,000,000.

Credit Agricole Securities (USA) Inc. was the bookrunner for the add-on. Deutsche Bank Securities Inc. and BofA Merrill Lynch were the bookrunners for the original issue.

The regional bank is based in Brussels, Belgium.

Issuer:	Dexia Credit Local
Amount:	$125 million reopening
Maturity:	March 23, 2018
Securities:	Floating-rate notes
Bookrunner:	Credit Agricole Securities (USA) Inc.
Coupon:	Libor plus 60 bps
Yield:	Libor plus 52 bps
Pricing date:	May 5
Ratings:	Moody’s: Aa3
	S&P: AA
Total outstanding:	$1,138,000,000, including $1 billion priced March 15, 2016 at par

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