Dexia SA (DEXB), the French-Belgian lender that’s being broken up, has stopped funding some 120 large customers in France, most of them local governments, De Tijd reported yesterday, citing customers and a company spokesman.
Dexia has told customers they no longer have drawing rights for existing lines of credit of up to 1.6 billion euros, De Tijd said. Benoit Gausseron, a spokesman for the company, said it can no longer provide new loans under restructuring overseen by the European Commission.
To contact the reporter on this story: Aoife White in Brussels at firstname.lastname@example.org.
To contact the editor responsible for this story: Anthony Aarons at email@example.com.