The credit derivatives determinations process has, for some time, been clouded in relative mystery. As credit default swap (CDS) strategies have grown more complex and gray-area issues have become more commonplace, advocacy...more
Europcar Drives CDS Down a Familiar Path -
When Europcar defaulted on its debt, buyers of approximately $100 million of credit default swap (CDS) protection expected significant payouts due to the anticipated low recovery on...more
Supply-chain credit risk is a continuous risk vendors and suppliers face, and it is a risk that has some extra venom during the holiday season. With a highly distressed retail sector, suppliers are, as always, seeking to...more
The McClatchy Company (MNI) Mellows Out -
For a name on which $380 million was written at the time of the credit event and that had attracted some publicity in 2018, the scarcity of unsecured bonds (only around $15...more
Thomas Cook Takeaways -
For credit default swap (CDS) protection buyers with protection on Thomas Cook Group Plc, a U.K. scheme of arrangement paving the way for a £1.6 billion debt-to-equity exchange imposed on all debt...more
1/10/2020
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CFTC ,
Chapter 15 ,
Commercial Bankruptcy ,
Contract Terms ,
Credit Default Swaps ,
Debt ,
Derivatives ,
End-Users ,
ISDA ,
Lenders ,
Liquidity ,
Popular ,
Secondary Credit Markets
Thomas Cook Group Plc’s (Thomas Cook) recent attempt at a restructuring and its ultimate downfall received numerous headlines. As the world’s oldest travel company spiraled toward a liquidation, the inner workings of the...more
ISDA has extended the closing date for the CDS NTCE Protocol by two weeks. The Protocol will now close on Oct. 28. This extension of the adherence period is due to the relatively modest rate of adherence so far. ...more