Achievements 

Main activities and evolution of Dexia in 2007 and at the beginning of 2008

 

 

 

 

2007
 
January
 
The Duisenberg Arrangement is granted binding force
 
The Amsterdam Court of Appeal grants binding force to the Duisenberg Arrangement, based on the “Law on Collective Settlement of Mass Damage”. Pursuant to the Court’s judgment, the application of this law will bind all concerned clients to the Duisenberg Arrangement, as long as they do not opt out within a period of six months.
 
February
 
Settlement for the American part of the Lernout & Hauspie case
 
Dexia announces a settlement with the shareholders of -Lernout & Hauspie Speech Products (LHSP) in the -“NASDAQ Class Action” for an amount of USD 60 million (EUR 45.6 million), and a settlement with the private equity fund Stonington Partners Inc.
 
Land Berlin has mandated Dexia joint-bookrunner of its first 15-year jumbo bond issue   
 
Dexia Capital Markets has been mandated as joint-bookrunner of Land Berlin’s so far largest jumbo Landesschatzanweisung (German domestic municipal bond).
 
March
 
Sale of Belstar to Ethias
 
Dexia and Ethias confirm signing an agreement for the sale of belstar Assurances.
Belstar was no longer in line with Dexia’s strategy on the Belgian market, which is concentrating on the distribution of insurance products for private individuals at the level of the banking network of Dexia Bank Belgium, the network of exclusive agents of DVV/LAP and Corona Direct.
 
 
DenizBank takes over Global Hayat Sigorta
 
DenizBank, Dexia’s Turkish subsidiary, takes a 99.6% stake in Turkey-based life insurer Global Hayat Sigorta. The products of Global Hayat Sigorta will be distributed by the branch network of DenizBank. The name of the company has been changed to Deniz Hayat Sigorta.
 
April
 
Partnership between Dexia Securities France and Atos Euronext Market Solutions for the implementation of a MiFID solution
 
Dexia Securities France and Atos Euronext Market Solutions (AEMS) announce they have entered into a partnership to develop a broker solution which ensures they will meet their MiFID requirements. A modular platform will allow the brokers to fulfill the requirements – best execution – and reporting needed by their clients.
 
DenizBank named “Shipping Financier of the Year”
 
One of the most prestigious institutions of the world maritime sector, Lloyd’s of London and its main publishing organ Lloyd’s List, considering DenizBank’s financial contribution in the maritime sector and its positioning this sector as one the most strategic fields on which to focus, organized the Lloyd’s List Turkish Shipping Awards for the first time and named DenizBank “Shipping Financier of the Year”.
 
May
 
Dexia finances the first Belgian offshore wind farm
 
Dexia, mandated as lead arranger, and Rabobank, as mezzanine lender, have closed the financing for the construction and operation by C-Power of the first phase an offshore wind farm at Thornton Bank, located 28 km off the Belgian coast near Zeebrugge.
 
June 
 
A “Financial Times Sustainable Award 2007” to Dexia for its sustainable development strategy in the regions of Eastern Europe
 
Dexia banka Slovensko, subsidiary of the Dexia Group established in Slovakia, receives an award as “Emerging Markets Sustainable Bank of the Year (Eastern Europe)” given by the Financial Times in association with the International Finance Corporation (IFC), the private sector branch of the World Bank.
 
July
 
Creation of Dexia LdG Banque, a bank issuing letters of pledge
 
Dexia announces the creation of a new bank issuing letters of pledge in Luxembourg, Dexia LdG Banque. The principal activity of Dexia LdG Banque, a 100%-owned subsidiary of Dexia Banque Internationale à Luxembourg, is to refinance assets generated by the Dexia Group’s public sector financing business in OECD countries and the European Economic Area, through the issuance of covered bonds.
 
DenizBank offers an investment credit support of EUR 250 million to enterprises
 
DenizBank, which day by day increases its claims in both SME banking and corporate and commercial finance with the innovative solutions it develops as a response to the differing financial needs of small, medium-sized and large enterprises, has provided an investment credit resource amounting to EUR 250 million in total for small and medium-sized Turkish enterprises and commercial and corporate entities as a result of the protocol it signed with the European Investment Bank.
 
August
 
An overwhelming majority of clients of Dexia Bank Nederland accept the Duisenberg Arrangement
 
An overwhelming majority of clients with share leasing products from Dexia Bank Nederland consider the Duisenberg Arrangement as a fair proposal and accept it, hereby substantially reducing legal risks.
 
September
 
Dexia establishes two private banking units in Monaco and Montevideo
 
The Dexia Group, through Dexia Banque Internationale à -Luxembourg and its subsidiary Dexia Private Bank (Switzerland), announces the opening of two offices in Monaco and in Montevideo.
 
The largest milk production facility in Europe is financed by DenizBank
 
Sancak Group and Ata Group, Turkey’s most prominent investor institutions and DenizBank, which is renowned for its intensive support for the agricultural sector, are combining forces to finance the construction of Europe’s largest and most modern milk production facility in Denizli Acıpayam. DenizBank granted a loan of USD 30 million, the largest amount of credit ever to be given to one project in animal husbandry.
 
November
 
Dexia to acquire a EUR 3 billion social housing loan book from Bradford & Bingley in the United Kingdom
 
Dexia announces the signing of an agreement with Bradford & Bingley concerning the acquisition of a EUR 3 billion equivalent loan portfolio in the social housing sector. The acquisition of this portfolio enables Dexia to broaden its customer base and to achieve critical size which will in turn enable it to increase its visibility on this market and make the most of its product range.
 
Dexia’s visibility strategy in the field of public real estate confirmed by the announcement of the creation of two real estate companies, one in Belgium and the other in France
 
In France, Dexia is joining with the Caisse des dépôts et con-signations and the SNI Group to create Exterimmo.
In Belgium, Holding Communal, the Arco and GVA AM SA Group will be partners of Dexia, a majority shareholder with 40% of the capital, in the company Dexia Immorent.
 
December
 
Dexia Sabadell finances 106 trains for the Madrid subway
 
Dexia Sabadell will, together with Caja Madrid, Société Générale and the ICO, be providing the funds to finance construction of 106 trains to be run on the subway network of Madrid. The amount of the investment, in the order of EUR 450 million, will be undertaken by a special purpose vehicle company in whose capital the banks will each take a share.
 
A 15-year agreement signed by Dexia and Apetra
 
Dexia and Apetra, the agency responsible for managing strategic oil stocks in Belgium, signed a finance contract for a maximum EUR 800 million over 15 years. Dexia will also perform the function of cashier for Apetra.
 
 

 
 
2008 
 
January
 
A first in the Belgian port sector for Dexia
 
Dexia is among the mandated lead arrangers for a EUR 286 million debt facility for Babcock & Brown Infrastructure, in the Belgian port sector.
 
Dexia, third bank in the world for project finance
 
The financial press group Thomson Financial has just published its league tables of leading banks involved in project finance during 2007. Dexia appears in the third place among bank debt arrangers, on a global basis, with a debt volume of more than USD 9.2 billion spread over 61 financing arrangements completed last year.
 
Dexia Asset Management is expanding to Poland
 
Dexia Asset Management confirms its strategy of growth towards Central Europe by opening a branch in Warsaw both for retail and institutional clients.
 
February
 
Dexia provides USD 500 million (EUR 340 million) additional capital to FSA
 
Dexia and its subsidiary Financial Security Assurance (FSA) announced that Dexia will contribute USD 500 million (EUR 340 million) additional capital to FSA to take advantage of increasing opportunities that have recently arisen in the US municipal and public infrastructure finance markets.