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Decent appetite for Dexia’s debut GG

The inaugural transaction for Dexia Crédit Local government is off to a good start with Eu3bn of orders pouring in. Pricing is expected this afternoon around the guidance of 85bp to 90bp over mid-swaps. The transaction is jointly guaranteed by France, Luxembourg and Belgium and is the first of its kind. Barclays Capital, BNP Paribas, Dexia CM, HSBC and Société Générale are leading the transaction.

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