Boston Generating LCDS settles at high final price

Dealers today settled the final price of Boston Generating loan-only credit default swaps at a high 96.75. The name is a constituent of LCDX index series 8-10 and 12-14.

Nine dealers participated and produced an initial market midpoint of 95.875. Physical settlement requests amounted to just $5 million open interest to buy, arising from one Bank of America bid.

Citi and BofA wholly filled $2 million size limit orders at 96 and 96.5 respectively, derived from inside markets. Credit Suisse and Morgan Stanley Emerging Markets partially filled at the final price.