The Financial Times reports that this week's auction of assets from the former Cheyne Finance SIV has resulted in a price of 44 cents in the dollar. This establishes the amount investors will receive if they opt for a cash exit, according to the article. Unsold assets will be transferred to a new vehicle set up by Goldman Sachs.

Newsletter

August 2008
News: TD battles for UK survival after blunder; JP Morgan pulls plug on deal for Prytania CDO model; XLCA dissolves CDO team
People: UBS strengthens European flow business; Deutsche Bank shuffles trading
Analysis: Bond funds go hunting for value; The French Revolution
Profiles: Novatar
Comment: Fishknife; Wolseley

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