Lender Dexia Crédit Local has announced the issue of its inaugural €1.5 bn bond with a maturity of three years.
Lender Dexia Crédit Local has announced the issue of its inaugural €1.5 bn bond with a maturity of three years.
Following a week's roadshow in different European countries, Dexia - a lender owned by the Belgian and Dutch states - launched the bond on 2 July and received orders from a total of 80 investors, with the order book reaching €1.7 bn.
Investors were mainly from France and the UK, which represented 29% and 28% of the order volume, followed by Germany and Switzerland (24%).
The bank plans to issue between €5 and €6 bn of secured debt this year in market conditions continue to be favourable.
