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Mexico's Urbi Desarrollos Urbanos CDS auction to be held June 6
By Toni Weeks
San Luis Obispo, Calif., May 31 - The International Swaps and Derivatives Association, Inc. announced that an auction will be held on June 6 for Urbi Desarrollos Urbanos, SAB de CV's outstanding credit default swap transactions.
Settlement is expected June 13.
ISDA said on May 21 that its Americas Credit Derivatives Determinations Committee determined that a failure to pay credit event occurred for the company.
Urbi is a homebuilder based in Mexicali, Mexico.
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