100% pay-out on New Look CDS as physical bids fail to materialise

By Dan Alderson

Wednesday, June 05, 2019

A credit event auction to settle CDS referencing New Look today resulted in a zero cent final price, meaning contracts paid out to protection buyers in full - the first time this has happened other than by a 'deemed auction' decision since 2012

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TAGS: CDS Europe High yield bonds Distressed debt Credit derivatives

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