Dexia brings first £1bn SSA trade since surprise UK election result

By Craig McGlashan
06 Jul 2017

Dexia Crédit Local this week brought the first £1bn-plus sterling deal from an SSA issuer since a shock UK general election result in early June, with what one SSA syndicate head away from the trade called a “phenomenal” result. The deal came as speculation mounted that the Bank of England could next month raise its base rate for the first time in more than a decade.

Leads Barclays, Deutsche Bank and HSBC on Tuesday priced a £1bn June 2022 for Dexia at 70bp over the 4% March 2022 Gilt, at the tight end of guidance of 72bp area and initial price thoughts of low 70s. The final book was over £1.15bn, ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.