By Cristal Cody
Tupelo, Miss., Oct. 8 – Dexia Credit Local SA (Aa3/AA/BBB+) priced a $1.5 billion Rule 144A and Regulation S offering of 1.625% five-year senior notes on Tuesday at mid-swaps plus 38 basis points, or a spread of 35.73 bps over Treasuries, according to a market source.
Initial price talk was in the mid-swaps plus 42 bps area.
Barclays, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and Societe Generale were the bookrunners.
Dexia Credit Local is a Brussels, Belgium-based regional bank focused on sustainable development.
| Issuer: | Dexia Credit Local SA
|
| Amount: | $1.5 billion
|
| Description: | Senior notes
|
| Maturity: | Oct. 16, 2024
|
| Bookrunners: | Barclays, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and Societe Generale
|
| Coupon: | 1.625%
|
| Spread: | Mid-swaps plus 38 bps area, or Treasuries plus 35.73 bps
|
| Trade date: | Oct. 8
|
| Ratings: | Moody’s: Aa3
|
| S&P: AA
|
| Fitch: BBB+
|
| Distribution: | Rule 144A and Regulation S
|
| Price guidance: | Mid-swaps plus 42 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.
