Characteristics of issues

All issues are obligations foncières and other debts which benefit from the legal privilege according to the legislation(article L515-19), rated.

 
 
  • AAA by Fitch,
  • Aa1 on review for downgrade by Moody’s,
  • AAA watch negative by Standard & Poor's.
    The ratings are confirmed before the beginning of the issues.

  • Issues are public or private (structured or vanilla).
  • obligations foncières authorize:
 
  • any amount,
  • all currencies : EUR, USD, JPY, CHF, GBP, etc...
  • all structures: fixed rate, variable rate, zero coupon, dual currency, index-linked, step up, etc...
  • Some issues in euro are eligible to the European Central Bank (ECB).
The list of these issues is available online on the website of the ECB
 
  • obligations foncières can be issued in the following forms:
 
  • EMTN program,
  • stand alone,
  • Australian domestic program.
 
  • New issues of Dexia MA are directly fungible with existing tranches. More