PARIS, Jan 20 (Reuters) - Franco-Belgian bank Dexia said on Thursday it was finalising a funding agreement with state-owned French mail operator and financial services provider La Poste, without giving further detail.
French newspaper Le Figaro had reported La Poste was expected to subscribe this year to 3 billion euros ($4.0 billion) of covered bonds issued by Dexia.
'The principles of a funding agreement between the two groups have been drawn up but the exact terms are being finalised and are not yet sealed,' a Dexia spokesman said, declining to comment on the 3 billion figure.
'This partnership will be mutually beneficial and will be made according to market conditions,' he said.
(Reporting by Julien Ponthus; Editing by Dan Lalor)
($1 = 0.7413 euro) Keywords: DEXIA/ (lionel.laurent@thomsonreuters.com; +33 1 49 49 56 85; Reuters Messaging: lionel.laurent.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
French newspaper Le Figaro had reported La Poste was expected to subscribe this year to 3 billion euros ($4.0 billion) of covered bonds issued by Dexia.
'The principles of a funding agreement between the two groups have been drawn up but the exact terms are being finalised and are not yet sealed,' a Dexia spokesman said, declining to comment on the 3 billion figure.
'This partnership will be mutually beneficial and will be made according to market conditions,' he said.
(Reporting by Julien Ponthus; Editing by Dan Lalor)
($1 = 0.7413 euro) Keywords: DEXIA/ (lionel.laurent@thomsonreuters.com; +33 1 49 49 56 85; Reuters Messaging: lionel.laurent.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.