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CLOs on lookout as Neiman recovery signals slump and DC confirms credit event
3 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
3 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
3 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 -
Ecuador CDS gaps tighter as it heads to credit event auction
4 years ago
CDS referencing Ecuador sovereign bonds are rallying sharply, just as the Americas Determinations Committee set a date for them to be settled at a credit event auction -
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 -
Ecuador has triggered CDS contracts, says Determinations Committee
4 years ago
Ecuador has triggered a restructuring credit event, the Americas Determinations Committee has ruled -
Thomas Cook CDS auction sets initial midpoint at nine cents
4 years ago
An auction to settle CDS referencing Thomas Cook Group has derived an initial market midpoint of 9.125 cents, implying protection buyers will receive a pay-out on contracts in the region of 89 cents -
Galapagos failure-to-pay credit event posed to DC as bond grace period lapses
4 years ago
The Credit Derivatives Determinations Committee has accepted a request to rule on whether Galapagos Holding, a former iTraxx Crossover index constituent, has triggered a failure-to-pay credit event -
Steinhoff CDS auction in limbo due to lock-up and CVA
5 years ago
A date to settle CDS referencing Steinhoff Europe had still to be agreed as Creditflux went to press — more than a month on from when the EMEA Determinations Committee (DC) ruled that the company had triggered a failure-to-pay credit event. -
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 -
Puerto Rico CDS settles with little open interest
7 years ago
CDS auction brings settlement of 58 cents on the dollar for defaulted island -
CDS holders voice suspicions over bankruptcy timing as Oi talks resume
7 years ago
Isda's credit determinations committee meets for third time to determine timing of Oi's default timing -
Abengoa’s filing is a default for some, says Isda
8 years ago
Isda rules that Abengoa's filing for credit protection for older contracts -
Ukraine’s bond restructuring will trigger CDS contracts
8 years ago
Isda's determinations committee rules in favour of CDS holders -
Isda delays Argentina CDS auction following yen bond challenge
9 years ago
Isda has announced that the auction for Argentine CDS will be delayed until after 2 September
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