Maturity no obstacle to eight year Dexia MA benchmark launched after EC approves plan
Dexia Municipal Agency launched the first benchmark covered bond of the week, a Eu1bn eight year issue on Wednesday that was Dexia’s first since the European Commission approved the group’s restructuring plan earlier this month.
The deal followed a three day break in primary market activity as market participants awaited the outcome of meetings of eurozone finance ministers and the Economic & Financial Affairs Council held to discuss Greeces public finances, and demonstrated the viability of issuance despite fragile, albeit calmer, market conditions.
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