Dexia will not make Nov. 2 interest payment on perpetual securities

By Wendy Van Sickle

Columbus, Ohio, Sept. 23 – Dexia SA said it will not make the Nov. 2 interest payment on its outstanding €39,788,000 of fixed/floating rate perpetual non-cumulative guaranteed securities, according to a notice.

The non-payment is a result of the merger between Dexia and Dexia Funding Luxembourg SA, the company said.

A total of €500 million of the securities were issued on Feb. 11, 2006, and the securities can be called on Feb. 11, 2016 and quarterly thereafter.

Dexia is a Brussels-based financial holding company.

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