Dynegy loan CDS trades will not be settled via auction, Markit says

By Angela McDaniels

Tacoma, Wash., Nov. 10 - No auction will be held to settle loan credit default swap trades referencing Dynegy Holdings, LLC, according to Markit Group Ltd.

Dynegy Holdings filed for bankruptcy on Monday. Version three of the series 14 Markit LCDX North American index is impacted, as are versions two of the series 15 and series 16 indexes. New versions will be issued with the company removed.

Plans for an auction to settle non-loan CDS trades referencing the company were announced on Wednesday. The timing had not been determined.

Dynegy Holdings is a Houston-based producer and seller of electric energy, capacity and ancillary services. It Chapter 11 case number is 11-38111.

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