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Masonite credit event will prompt auction, says Isda

Tuesday, November 18, 2008

Isda announced today that LCDX dealers have voted to hold an auction for loan-only credit default swap transactions referencing Masonite International. Both auction terms and auction date will be determined by LCDX dealers and published on Isda’s website in the next few weeks. As the auction mechanism is built into Isda’s CDS documentation for loan credit default swaps, no protocol will be required.

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