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RadioShack credit default swap priced at 11.5 in auction
By Toni Weeks
San Luis Obispo, Calif., March 5 – RadioShack Corp. credit default swaps will be settled at a price of 11.5.
The prices were fixed via an auction on Thursday. Eleven dealers submitted initial markets, physical settlement requests and limit orders to the auction administered by Creditex and Markit to settle trades across the market referencing RadioShack.
As previously reported, the International Swaps and Derivatives Association Inc.’s Americas credit derivatives determinations committee resolved that a bankruptcy credit event occurred.
RadioShack is a Fort Worth technology retailer that filed for bankruptcy on Feb. 5. Its Chapter 11 case number is 15-10197.
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