Top Gun triggers credit event, but there's no debt in the barrel

By Dan Alderson

Top Gun Realisations 61, a New Look retail group private limited company that was previously named New Look Bondco I, has triggered a bankruptcy credit event, the EMEA Determinations Committee has ruled. But no CDS auction will follow since the reference entity has no debt outstanding

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TAGS: CDS Europe High yield bonds Distressed debt Credit derivatives