Metro-Goldwyn-Mayer auction for loan-only CDSs scheduled for Nov. 10

By Angela McDaniels

Tacoma, Wash., Nov. 3 - The auction to settle loan-only credit default swap transactions referencing Metro-Goldwyn-Mayer Inc. will be held Nov. 10, according to the web site of auction administrators Markit Group Ltd. and Creditex Group Inc.

As previously reported, LCDX dealers voted to hold the auction after MGM failed to make an interest payment on its senior secured loan that was due on Sept. 30.

MGM is a motion picture, television, home video and theatrical production and distribution company based in Los Angeles.

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