Irish Life & Permanent CDS settlement auction final prices: 86, 75

By Jennifer Chiou

New York, Oct. 5 - Irish Life & Permanent plc credit derivative trades were settled via an auction on Wednesday, resulting in a final price of 86 for senior bucket 1 and 75 for senior bucket 2, according to Creditex Group Inc.

Creditex and Markit Group Ltd. announced the auction on Sept. 21.

On Aug. 26, the International Swaps and Derivatives Association's EMEA credit derivatives determinations committee resolved that a restructuring credit event occurred and that one or more auctions would be held to settle credit derivatives referencing the company.

Irish Life & Permanent is a financial services and insurance company based in Dublin.

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