Auction to settle Aleris loan-only CDS sets final price at 8

By Angela McDaniels

Tacoma, Wash., March 9 - The final price used to settle credit derivative trades for Aleris International, Inc. has been set at 8, according to a news release from Creditex and Markit.

On Feb. 13, the International Swaps and Derivatives Association, Inc. said LCDX dealers voted to hold an auction for loan-only credit default swap transactions referencing Aleris, and the auction was administered by Markit and Creditex.

Aleris, a Beachwood, Ohio-based producer of aluminum rolled products and extrusions, aluminum recycling and specification alloy, filed for bankruptcy on Feb. 12. Its Chapter 11 case number is 09-10478.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.