New Issue: Dexia Credit Local sells $1 billion of 0.5% three-year notes at mid-swaps plus 8 bps

By Cristal Cody

Chicago, July 8 – Dexia Credit Local SA sold $1 billion of 0.5% three-year senior notes on Thursday, according to a market source.

The issue priced with a mid-swaps plus 8 basis points spread, on the tight side of initial talk in the mid-swaps plus 9 bps area.

Barclays, Citigroup, Goldman Sachs, HSBC and Societe Generale were bookrunners for the Rule 144A and Regulation S deal.

Dexia Credit Local is a Brussels, Belgium-based regional bank focused on sustainable development.

Issuer:	Dexia Credit Local SA
Issue:	Senior notes
Amount:	$1 billion
Maturity:	July 16, 2024
Bookrunners:	Barclays, Citigroup, Goldman Sachs, HSBC and Societe Generale
Coupon:	0.5%
Spread:	Mid-swaps plus 8 bps, or Treasuries plus 20.43 bps
Trade date:	July 8
Distribution:	Rule 144A and Regulation S
Price talk:	Mid-swaps plus 9 bps area

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