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Chesapeake default takes CDS auctions to eight-year high
3 years ago
Chesapeake Energy has been confirmed as the latest CDX HY index constituent to require settlement at auction, after the Americas Determinations Committee ruled it has triggered a bankruptcy credit event -
California Res deliverables list points to 98 cents CDS pay-out
3 years ago
Three bonds have made it onto the final list of obligations to settle CDS referencing California Resources Corp, which triggered a failure-to-pay credit event earlier this month -
Chesapeake bankruptcy points to hit for CDS and loan holders
3 years ago
Chesapeake Energy looks set to become the latest in a string of defaults to hit US high yield index CDX HY, after the Oklahoma City headquartered shale producer filed for chapter 11 protection -
Ouch it Hertz! CDS auction result hits index and protection sellers
3 years ago
Hertz Corporation CDS has been settled at auction at 26.375 cents, much lower than protection sellers might have hoped for only last week. But the final price was slightly better than initial bidding signalled -
Pimco stands alone in Hertz CDS tussle as recovery hopes fall
3 years ago
The Americas Determinations Committee has resolved a challenge on Hertz Corp deliverable obligations in time for tomorrow's credit event auction. But it was not a unanimous decision, with Pimco voting against other members -
DC rejects Valaris credit event request
3 years ago
The Americas Determinations Committee has rejected a request to rule on whether UK headquartered offshore driller Valaris has triggered a restructuring credit event -
CLOs dodge offshore driller as restructuring credit event question posed
3 years ago
The Americas Determinations Committee has been asked to rule on whether UK headquartered offshore driller Valaris has triggered a restructuring credit event -
DC sets tight deadline to resolve Hertz challenge
3 years ago
The Americas Determinations Committtee has set a deadline of 5pm New York time tomorrow to resolve a challenge to obligations for next week's Hertz Corp CDS auction -
Intelsat CDS set for deemed auction today at 100% recovery
3 years ago
Intelsat Investments CDS will be settled today at 100% recovery through a deemed auction, the Determinations Committee has said -
Intelsat CDS has no deliverables for an auction, says DC
3 years ago
CDS contracts referencing Intelsat Investments look to have no deliverable obligations, according to the Americas Determinations Committee, making a pay-out to protection buyers unlikely -
JC Penney becomes seventh bankruptcy credit event to hit index tranches
4 years ago
JC Penney has triggered a bankruptcy credit event, the Americas Determinations Committee has ruled -
RBC makes it three CDS auctions in a row after debuting this month
4 years ago
Morgan Stanley and Royal Bank of Canada have been added to the list of participating bidders this week for credit event auctions to settle CDS referencing Ecuador and Diamond Offshore Drilling -
Intelsat triggers bankruptcy credit event
4 years ago
Intelsat Investments has triggered a bankruptcy credit event, the Americas Determinations Committee has ruled -
Morgan Stanley joins bidders for Frontier CDS auction
4 years ago
Morgan Stanley has been added to the list of participating bidders for a credit event auction this week to settle Frontier Communications CDS -
CLOs on lookout as Neiman recovery signals slump and DC confirms credit event
4 years ago
Five-year CDS referencing Neiman Marcus widened by four points to 95.25 points up front, according to IHS Markit, as the Americas Determinations Committee confirmed the US retailer has triggered a bankruptcy credit event -
US retailer bankruptcy spells hit for CLOs and CDX HY tranches
4 years ago
US retailer Neiman Marcus's filing for chapter 11 protection opens the prospect of a fourth credit event in the CDX HY index and a sixth for on-the-run HY tranches, as well as a hit for CLOs -
Whiting CDS heads to auction, with Morgan Stanley joining bidders
4 years ago
The credit event auction to determine Whiting Petroleum CDS takes place today, with Morgan Stanley added to participating bidders and the pay-out to protection buyers expected to be as much as 90 cents in the dollar -
HY tranche traders face another cut as Diamond hits the rough
4 years ago
US high yield index CDX HY has suffered its third constituent credit event in a month, after Diamond Offshore Drilling filed for chapter 11 protection in the Southern District of Texas. This is also the fifth default to hit on-the-run CDX HY tranches -
Parker Drilling CDS auction deliverables trade in low 50s
5 years ago
There will be two deliverable obligations into an auction to settle credit default swaps referencing Parker Drilling, the Americas Credit Derivatives Determinations Committee has decided -
Seven deliverables valid for Sears CDS auction, as seven others split DC panel
5 years ago
There will be seven obligations deliverable into an auction on 14 November to settle credit default swaps referencing Sears Roebuck Acceptance Corp, the Americas Credit Derivatives Determinations Committee has decided. But members of the 15-strong DC were split over whether to include another seven potential deliverables that did not make the cut -
Strengthen CDS definitions to stop engineered defaults, say lawyers
6 years ago
The likelihood of stamping out manipulation in the credit default swaps market – namely the practice of staging credit events – is remote, say market sources
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