Dexia SA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Dexia SA Updates on Revised Orderly Resolution Plan
Dexia SA announced that the French, Belgian and Luxembourg States have entered into joint definitive funding guarantee agreement in favor of Dexia Credit Local. This definitive guarantee agreement is effective immediately. It replaces the temporary guarantee dated December 16, 2011 which is terminated without retroactive effect and without prejudice to any rights arising pursuant to guaranteed obligations entered into or issued prior to the effectiveness of the definitive guarantee. As indicated in the press release dated December 31, 2012, the guarantee limit is EUR 85 billion in principal, including funding already covered by the temporary guarantee of 2011 (amounting to EUR 53.6 billion in principal as of January 18, 2013). The States' guarantee obligations are allocated as follows: 51.41% for Belgium (corresponding to a maximum amount of EUR 43.6985 billion), 45.59% for France (corresponding to a maximum amount of EUR 38.7515 billion) and 3% for Luxembourg (corresponding to a maximum amount of EUR 2.55 billion). The guarantee covers debt, in the form of securities and financial instruments, deposits and borrowings, with a maximum maturity of ten years, issued between the date hereof and December 31, 2021 to qualified, institutional and professional investors within the meaning of the guarantee agreement.
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