Dexia Municipal Agency

Dexia Municipal Agency

Rating: Aaa/AAA/AAA

Amount: Eu750m obligations foncières (fungible with three issues totalling Eu2.25bn first launched 13/02/03)

Maturity: July 12, 2008

Issue/re-offer price: 99.323

Coupon: 3.25%

Spread at re-offer: 9.5bp over the 3.5% January 2008 BTAN; 12bp over the 4.75% July 2008 Bund

Launched: Tuesday February 3

Joint books: CDC Ixis, JP Morgan, Nomura

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