Dexia Crédit Local shrugs off re-hedging risk to tap strong demand for inflation-linked

Dexia Crédit Local took advantage of the persistent enquiry for inflation-linked bonds this week printing a Eu50m five year inflation-linked bond via BNP Paribas. The note pays an undisclosed fixed coupon for the first two years and a coupon linked to the harmonised index of consumer prices (HICP) in the European Union, floored at 0, thereafter.