September 27, 2019 / 10:35 AM / 19 days ago

EU clears extension of Dexia debt guarantees

BRUSSELS (Reuters) - The European Commission said on Friday it had approved the prolongation of the Belgian and French state guarantees for the debt of bailed-out Franco-Belgian lender Dexia (DEXI.BR) beyond 2021.

The current wind-down scheme, put in place in 2012 and including a capital increase, runs until the end of 2021. Belgium and France notified the Commission in June that they intended to extend the guarantees until the end of 2031.

The two states, and to a lesser extent Luxembourg, are currently providing guarantees for 63.5 billion euros ($69.4 billion) of Dexia debt.

Reporting by Philip Blenkinsop; editing by Francesco Guarascio

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