Depfa, Dexia Crédit Local, NIBC look to LM market in search for capital boost
Depfa, Dexia Crédit Local and NIBC Bank stepped into the liability management market this week, targeting capital instruments in a bid to raise common equity ratios.
Dexia Crédit Local is targeting two subordinated securities, a 500m 2017 note callable from July 2012 and a 300m 2019 callable from February 2014. It will buy back up to 400m of the paper at 65% of par.
The move is to improve core capital, the bank said,
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: firstname.lastname@example.org or find out more online here.