Takefuji CDSs to be settled via auction, ISDA committee determines

By Angela McDaniels

Tacoma, Wash., Sept. 30 - Credit default swaps referencing Takefuji Corp. will be settled via an auction.

The International Swaps and Derivatives Association, Inc. announced that its Japan credit derivatives determinations committee resolved that a bankruptcy credit event has occurred and voted to hold the auction.

ISDA will publish the auction terms on its website, isda.org/credit, and the auction will be administered by Markit Group Ltd. and Creditex Group Inc.

Takefuji, a consumer lender based in Tokyo, filed for bankruptcy on Tuesday.

© 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.