Dexia Municipal Agency

25 Sep 2009

Rating: Aaa

Amount: Sfr250m

Maturity: 2 May 2018

Issue price: 100.275

Coupon: 2.5%

Spread at re-offer: 17bp over mid-swaps

Launched: Wednesday 23 September

Payment date: 2 November

Sole lead: UniCredit

Bookrunner’s comment:

Swiss franc investors are used to paying a tighter spread than euro investors, but the basis has been so unfavourable recently that they were having to ...

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