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Dealers vote for MGM credit event auction

Monday, October 19, 2009

The International Swaps and Derivatives Association today announced that LCDX dealers have voted to hold an auction for loan-only credit default swap transactions referencing film company Metro-Goldwyn-Mayer. MGM reportedly failed to make an interest payment on its senior secured loan that was due on 30 September.

Isda says it will publish the auction terms on its website, www.isda.org/credit, in due course


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