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Isda sets date for Seat Paginegialle loan auction
Friday, January 13, 2012
Isda has set a date of 17 January to determine the settlement price for credit default swaps referencing Seat Paginegialle’s loans. Markit and Creditex will, as usual, host Tuesday’s auction. The Italian publishing company triggered a credit event in October when it failed to make a coupon payment on subordinated bonds issued through an entity called Lighthouse International.
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Structured
Issuers
CFlux secondary
CLO index levels:
| Index | 21 May |
|
| CFlux USD AAA | ↑ | 96.2 |
| CFlux USD AA | ↑ |
88.3 |
| CFlux USD A | ↓ | 84.1 |
| CFlux USD BBB | ↓ | 75.3 |
| CFlux USD BB | ↓ |
74.1 |
| CFlux USD EQ | ↑ | 77.5 |
The original version of this article said that a date has not yet been set for the auction of Seat Paginegialle bonds. Thanks to the reader below for reminding us that this has already taken place (on 9 December), where a final price of 10 cents in the euro was set. Apologies for the confusion.
Didn't they have the auction for the bonds already, on Dec. 9th, 2011?