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BlueMountain lands senior credit trader in New York
4 years ago
BlueMountain has hired an experienced trader in New York to cover credit and special situations -
Rallye CDS auction price drops to 12.5 cents on unmatched sell requests
4 years ago
Rallye's credit event auction to settle CDS contracts produced a final price of 12.5 cents today, lower than the initial price set in the first round this morning of 14.975 -
Dealers line up to settle Windstream CDS today
5 years ago
Dealers will today hold a credit event auction to settle CDS referencing Windstream Services, with Morgan Stanley added to the list of participating bidders -
Challenge rejected on cheapest-to-deliver bonds for Windstream CDS auction
5 years ago
The Americas Credit Derivatives Determinations Committee has unanimously rejected a challenge by a market participant against allowing some of the cheapest Windstream bonds to be delivered into an auction to settle CDS referencing the company -
Windstream CDS auction delayed by two weeks
5 years ago
An auction to settle CDS referencing Windstream Holdings has been postponed by two weeks, after dealers on the Americas Credit Derivatives Determinations Committee agreed the process needed more time -
Dealers set Windstream credit event auction date
5 years ago
An auction to settle CDS referencing Windstream Holdings will take place on Monday, 18 March -
Isda tables plans to rid CDS market of narrowly tailored credit events
5 years ago
After lengthy deliberation, a working group of major firms is today set to publish proposals aimed at ridding the market of ‘narrowly tailored credit events’, whereby borrowers are persuaded to default on debt payments in order to trigger pay-outs for CDS holders -
Windstream set for high CDS pay-out as DC picks initial deliverable obligations
5 years ago
Windstream Holdings CDS protection holders look set for a high pay-out, as the cheapest deliverable obligations into the defaulted company’s credit event auction are quoted in the mid-20s -
Boost for Parker Drilling protection buyers as CDS settles lower than expected
5 years ago
Parker Drilling credit default swaps have settled at a lower value than expected, after physical settlement sell requests drove down the price at auction and increased the windfall for protection buyers -
Parker Drilling recovery implied at 45 cents as dealers get set for CDS auction
5 years ago
An auction to settle credit default swaps referencing Parker Drilling will take place today, with bond trading levels of the defaulted company implying a payout to protection buyers of around 45-46 cents on the dollar -
Sears CDS settles well above bonds on physical settlement squeeze
5 years ago
Predictions that credit default swaps referencing Sears Roebuck Acceptance Corp would recover at a high level have been borne out, with an auction to settle the contracts having returned a value of almost 80 cents on the dollar – nearly 30 points higher than where bonds of the bankrupt US retailer have been quoted -
Dealers gear up to settle Sears CDS and rule on Ziggo successor
5 years ago
The long wait to settle the final price of Sears Roebuck Acceptance Corp credit default swaps will end today with a credit event auction, while investors could also learn whether there is successor to contracts referencing deregistered Ziggo Bond Finance -
Sears CDS battle heats up as DC challenged to change auction rules
5 years ago
A high profile battle over Sears Roebuck Acceptance Corp credit default swaps has taken a new turn, with one market participant challenging the Americas Determinations Committee to change its rules to avert price manipulation by another market participant in the bankrupt retailer's credit event auction -
Sears CDS battle lines set out in market-defining legal fight
5 years ago
Legal sides have set out their arguments in the high-stakes Sears Roebuck Acceptance Corp credit event external review, in what an industry group of asset managers claims is a “unique opportunity to provide clarity on one of the most important definitions for the credit default swap product” -
Sear-iously? Isda slams ex-CFTC commissioner over CDS "hyperbole"
5 years ago
The International Swaps and Derivatives Association has waded into a gathering furore over Sears Roebuck Acceptance Corp credit default swaps -
Sears CDS settlement extends to 2019 as external review teams line up
5 years ago
Holders of Sears Roebuck Acceptance Corp credit default swaps will have to wait until at least 7 January to resolve the contracts, with an external review decision on deliverables into the defaulted borrower’s credit event auction slated for 21 December -
Sears CDS external review panel named to solve Determinations Committee impasse
5 years ago
The North America Determinations Committee has selected an external review panel to decide whether two Sears Roebuck Acceptance Corp debt obligations can be delivered into an auction to settle the US retailer’s credit default swaps, having failed to achieve a strong enough quorum among its own 15 members -
Astaldi CDS auction sets 30.875 final price as physical settlement boosts recovery
5 years ago
An auction today to settle credit default swaps referencing Astaldi has determined the final price to be 30.875 cents on the euro, meaning a 69.125 cents pay-out per euro for protection buyers -
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 -
Astaldi credit event question posed as its distress weighs on iTraxx Crossover
5 years ago
Astaldi, a constituent of iTraxx Crossover, has been referred to ISDA-hosted Credit Determinations Committees as a possible bankruptcy credit event – less than two weeks after the index rolled into a new series -
Dyal buys minority ownership stake in Sound Point
7 years ago
Dyal Capital has purchased a minority equity stake in credit manager Sound Point Capital Management
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