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Noble Corp auction date set as low recoveries stack up
3 years ago
The Americas Determinations Committee has set a date to settle CDS referencing the offshore driller, which looks set to follow Chesapeake Energy as the latest in a run of big pay outs for protection buyers -
Wirecard CDS settles above single digits
3 years ago
Wirecard CDS just about bucked the recent trend of defaulting credits settling in single digits at auction -
Seven dealers sign up for Wirecard CDS auction
3 years ago
An auction tomorrow to settle Wirecard CDS will have just seven participating dealers - three fewer than has been customary in other recent credit event settlements -
DC sets Wirecard CDS auction date, obligations and settlement terms
3 years ago
The Determinations Committee for Europe, Middle East and Africa has set a date to settle CDS contracts referencing German digital payments company Wirecard -
Wirecard splits DC on auction vote
3 years ago
Wirecard has caused a split at the Determinations Committee, whose members only narrowly reached a supermajority vote to hold a credit even auction for the German digital payments company -
Wirecard triggers first European CDS credit event of 2020
3 years ago
Wirecard has triggered a bankruptcy credit event, the Determinations Committee has ruled, making it the first European CDS name of 2020 to require settlement at auction -
DC agrees to rule on Wirecard, putting Europe's first 2020 CDS auction in sight
3 years ago
The European CDS market is moving closer to facing its first CDS auction of the year, with the Determinations Committee agreeing to rule on whether the German digital payments firm has triggered a bankruptcy credit event -
DC rejects Valaris credit event request
3 years ago
The Americas Determinations Committee has rejected a request to rule on whether UK headquartered offshore driller Valaris has triggered a restructuring credit event -
Intelsat CDS set for deemed auction today at 100% recovery
3 years ago
Intelsat Investments CDS will be settled today at 100% recovery through a deemed auction, the Determinations Committee has said -
Intelsat CDS has no deliverables for an auction, says DC
3 years ago
CDS contracts referencing Intelsat Investments look to have no deliverable obligations, according to the Americas Determinations Committee, making a pay-out to protection buyers unlikely -
Intelsat triggers bankruptcy credit event
3 years ago
Intelsat Investments has triggered a bankruptcy credit event, the Americas Determinations Committee has ruled -
Correlation rise stokes mezz rally but adds to CSO woes
4 years ago
Below the calm surface of the credit market, correlation has been churning and creating dislocations rich with reward for index tranche traders but complicating bespoke issuance, say sources. -
Rising idiosyncratic risk leads to calls for high yield index tranche fix from traders
4 years ago
As sources of funding dry up for the weakest borrowers in the credit market, some correlation traders are calling for an overhaul of CDX NA HY index tranches to make trades on wide-end dispersion more effective. -
Thomas Cook CDS auction sets initial midpoint at nine cents
4 years ago
An auction to settle CDS referencing Thomas Cook Group has derived an initial market midpoint of 9.125 cents, implying protection buyers will receive a pay-out on contracts in the region of 89 cents -
Thomas Cook is a lesson for CLOs on unsecured bonds, says TwentyFour AM
4 years ago
The liquidation of UK travel operator Thomas Cook this week has underscored that “unsecured debt has no place in CLOs,” according to a note by Aza Teeuwen, portfolio manager at TwentyFour Asset Management -
Galapagos failure-to-pay credit event posed to DC as bond grace period lapses
4 years ago
The Credit Derivatives Determinations Committee has accepted a request to rule on whether Galapagos Holding, a former iTraxx Crossover index constituent, has triggered a failure-to-pay credit event -
Steinhoff CDS auction in limbo due to lock-up and CVA
5 years ago
A date to settle CDS referencing Steinhoff Europe had still to be agreed as Creditflux went to press — more than a month on from when the EMEA Determinations Committee (DC) ruled that the company had triggered a failure-to-pay credit event.
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