Europcar sets course for high recovery in 2021's first credit event auction

By Dan Alderson

Wednesday, January 13, 2021

An auction to settle CDS referencing Europcar Mobility Group has generated an initial market midpoint of 73.5 cents, implying the pay-out to protection buyers could be only 26.5 cents - much lower than five-year CDS contracts had implied

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TAGS: CDS Europe High yield bonds Distressed debt Default North America Synthetic/SRT

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